Fifth Third Wealth Advisors LLC Raises Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Fifth Third Wealth Advisors LLC raised its position in Teledyne Technologies Incorporated (NYSE:TDY) by 71.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 861 shares of the scientific and technical instruments company’s stock after purchasing an additional 359 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Teledyne Technologies were worth $334,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new position in Teledyne Technologies in the fourth quarter valued at approximately $29,000. NBC Securities Inc. grew its holdings in shares of Teledyne Technologies by 89.4% during the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 42 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth $45,000. Covestor Ltd increased its position in shares of Teledyne Technologies by 131.9% during the 1st quarter. Covestor Ltd now owns 109 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 62 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Teledyne Technologies by 32.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock valued at $54,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $490.00 to $400.00 in a research report on Friday, April 26th. Needham & Company LLC raised their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective for the company. Finally, StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies Stock Up 0.8 %

NYSE:TDY traded up $3.28 during mid-day trading on Wednesday, hitting $418.73. The stock had a trading volume of 227,612 shares, compared to its average volume of 248,253. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $448.19. The stock has a 50-day simple moving average of $400.09 and a two-hundred day simple moving average of $406.62. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $19.59 billion, a PE ratio of 22.65, a PEG ratio of 2.93 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $4.67 EPS. On average, equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.4 EPS for the current year.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.