SteelPeak Wealth LLC Sells 1,159 Shares of Teledyne Technologies Incorporated $TDY

SteelPeak Wealth LLC lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 68.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 524 shares of the scientific and technical instruments company’s stock after selling 1,159 shares during the quarter. SteelPeak Wealth LLC’s holdings in Teledyne Technologies were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Teledyne Technologies during the second quarter worth $2,751,121,000. Jupiter Topco LLC purchased a new stake in Teledyne Technologies in the 2nd quarter valued at $1,027,237,000. Bank of America Corp DE purchased a new stake in Teledyne Technologies in the 2nd quarter valued at $406,938,000. Findlay Park Partners LLP purchased a new stake in Teledyne Technologies in the 2nd quarter valued at $277,363,000. Finally, Maren Capital LLC increased its stake in shares of Teledyne Technologies by 4.1% in the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company’s stock worth $251,373,000 after acquiring an additional 14,806 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 1.4%

TDY stock opened at $628.44 on Wednesday. The firm has a market cap of $29.13 billion, a PE ratio of 25.88, a PEG ratio of 2.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.39 and a current ratio of 2.18. The firm’s 50 day moving average price is $620.19 and its 200-day moving average price is $631.16. Teledyne Technologies Incorporated has a one year low of $483.02 and a one year high of $697.67.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $6.28 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.49. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.58 billion. Teledyne Technologies had a return on equity of 10.56% and a net margin of 15.29%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.20 earnings per share. On average, equities research analysts anticipate that Teledyne Technologies Incorporated will post 24.69 EPS for the current year.

Analyst Ratings Changes

TDY has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on Teledyne Technologies from $750.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Citigroup boosted their price target on shares of Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Morgan Stanley upped their price objective on shares of Teledyne Technologies from $680.00 to $715.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Barclays raised their price objective on shares of Teledyne Technologies from $614.00 to $640.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, Zacks Research cut shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $723.33.

Insider Buying and Selling

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of Teledyne Technologies stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total value of $4,387,512.66. Following the sale, the director owned 55,783 shares in the company, valued at $37,951,406.22. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.

Teledyne Technologies Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.