Merit Financial Group LLC Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Merit Financial Group LLC acquired a new position in Teledyne Technologies Incorporated (NYSE:TDY) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 439 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC increased its position in Teledyne Technologies by 8.5% in the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock worth $13,166,000 after purchasing an additional 2,224 shares during the last quarter. Amundi increased its holdings in shares of Teledyne Technologies by 11.9% during the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock valued at $57,687,000 after acquiring an additional 13,244 shares during the last quarter. ING Groep NV increased its holdings in shares of Teledyne Technologies by 144.9% during the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after acquiring an additional 3,522 shares during the last quarter. Grandfield & Dodd LLC increased its holdings in shares of Teledyne Technologies by 11.7% during the 4th quarter. Grandfield & Dodd LLC now owns 39,316 shares of the scientific and technical instruments company’s stock valued at $18,248,000 after acquiring an additional 4,125 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Teledyne Technologies by 15.2% during the 4th quarter. Principal Financial Group Inc. now owns 64,350 shares of the scientific and technical instruments company’s stock valued at $29,867,000 after acquiring an additional 8,501 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TDY shares. Needham & Company LLC lowered their price objective on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Bank of America increased their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. TD Securities reissued a “buy” rating and set a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $542.50.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $494.97 on Friday. The stock has a 50 day moving average of $478.16 and a two-hundred day moving average of $484.07. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. 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 $23.19 billion, a P/E ratio of 28.73, a P/E/G ratio of 3.14 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $4.55 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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.