Valicenti Advisory Services Inc. Cuts Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Valicenti Advisory Services Inc. reduced its position in Teledyne Technologies Incorporated (NYSE:TDY) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,221 shares of the scientific and technical instruments company’s stock after selling 125 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in Teledyne Technologies were worth $3,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Legacy Advisors LLC purchased a new position in shares of Teledyne Technologies in the 1st quarter worth about $205,000. Asset Management One Co. Ltd. raised its holdings in Teledyne Technologies by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company’s stock valued at $19,061,000 after buying an additional 1,712 shares during the period. GHP Investment Advisors Inc. raised its holdings in Teledyne Technologies by 3.1% in the first quarter. GHP Investment Advisors Inc. now owns 32,687 shares of the scientific and technical instruments company’s stock valued at $16,268,000 after buying an additional 978 shares during the period. Longboard Asset Management LP purchased a new position in Teledyne Technologies in the first quarter valued at approximately $212,000. Finally, Crumly & Associates Inc. raised its holdings in Teledyne Technologies by 5.9% in the first quarter. Crumly & Associates Inc. now owns 705 shares of the scientific and technical instruments company’s stock valued at $351,000 after buying an additional 39 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $494.63 on Wednesday. Teledyne Technologies Incorporated has a 12-month low of $380.63 and a 12-month high of $522.50. The company has a market capitalization of $23.18 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The firm’s fifty day moving average price is $484.29 and its 200 day moving average price is $484.72.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company earned $4.55 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TDY. TD Securities reissued a “buy” rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Needham & Company LLC cut their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus started coverage on Teledyne Technologies in a report on Tuesday. They set a “buy” rating and a $626.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $554.43.

Teledyne Technologies Profile

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.