17 Capital Partners LLC Decreases Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

17 Capital Partners LLC cut its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,568 shares of the scientific and technical instruments company’s stock after selling 54 shares during the quarter. 17 Capital Partners LLC’s holdings in Teledyne Technologies were worth $1,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crumly & Associates Inc. lifted its position in Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares in the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Teledyne Technologies by 267.6% during the third quarter. Applied Finance Capital Management LLC now owns 4,720 shares of the scientific and technical instruments company’s stock valued at $2,066,000 after purchasing an additional 3,436 shares during the period. Portside Wealth Group LLC lifted its position in shares of Teledyne Technologies by 4.0% during the third quarter. Portside Wealth Group LLC now owns 2,548 shares of the scientific and technical instruments company’s stock worth $1,115,000 after purchasing an additional 97 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Teledyne Technologies by 1.7% in the third quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company’s stock valued at $24,443,000 after purchasing an additional 915 shares during the period. Finally, Marks Group Wealth Management Inc grew its holdings in Teledyne Technologies by 2.1% during the 3rd quarter. Marks Group Wealth Management Inc now owns 18,826 shares of the scientific and technical instruments company’s stock valued at $8,239,000 after purchasing an additional 381 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $489.24 on Friday. The business has a 50 day simple moving average of $444.79 and a 200-day simple moving average of $415.06. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The company has a market capitalization of $22.80 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $5.05 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TDY shares. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a report on Friday. Needham & Company LLC lifted their price objective on Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Vertical Research initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Buy” and a consensus target price of $512.00.

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.