Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 6.2% in the 1st quarter, Holdings Channel reports. The firm owned 1,818 shares of the scientific and technical instruments company’s stock after buying an additional 106 shares during the quarter. Venturi Wealth Management LLC’s holdings in Teledyne Technologies were worth $905,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TDY. LPL Financial LLC boosted its stake in Teledyne Technologies by 8.5% during the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock valued at $13,166,000 after acquiring an additional 2,224 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in Teledyne Technologies in the first quarter worth about $247,000. Asset Management One Co. Ltd. grew its stake 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 worth $19,061,000 after purchasing an additional 1,712 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Teledyne Technologies by 8.3% in the first quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company’s stock worth $4,436,000 after purchasing an additional 681 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Teledyne Technologies in the first quarter worth about $6,725,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TDY has been the topic of a number of analyst reports. TD Securities reaffirmed a “buy” rating and issued a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. Needham & Company LLC reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a “buy” rating and a $626.00 price objective for the company. Morgan Stanley boosted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $570.14.

Teledyne Technologies Stock Performance

TDY stock opened at $546.54 on Thursday. Teledyne Technologies Incorporated has a 52 week low of $397.78 and a 52 week high of $570.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.19. The stock has a market cap of $25.61 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.61 and a beta of 1.04. The firm has a 50 day simple moving average of $508.33 and a 200 day simple moving average of $493.10.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company posted $4.58 earnings per share. Teledyne Technologies’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has approved a share repurchase program on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.