Cambridge Investment Research Advisors Inc. Cuts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Cambridge Investment Research Advisors Inc. reduced its position in Teledyne Technologies Incorporated (NYSE:TDY) by 27.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 703 shares of the scientific and technical instruments company’s stock after selling 260 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Teledyne Technologies were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TDY. Norges Bank purchased a new position in Teledyne Technologies in the fourth quarter worth $306,042,000. GAMMA Investing LLC grew its holdings in shares of Teledyne Technologies by 61,911.9% during the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company’s stock valued at $247,220,000 after buying an additional 495,914 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Teledyne Technologies by 19,605.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company’s stock valued at $169,469,000 after buying an additional 363,280 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Teledyne Technologies during the fourth quarter valued at $143,524,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Teledyne Technologies during the fourth quarter valued at $61,939,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Teledyne Technologies Trading Up 0.5%

NYSE TDY opened at $530.39 on Friday. The company has a market capitalization of $24.85 billion, a PE ratio of 30.31, a P/E/G ratio of 2.48 and a beta of 1.04. The company has a fifty day moving average of $497.98 and a 200 day moving average of $488.53. Teledyne Technologies Incorporated has a 1 year low of $391.58 and a 1 year high of $534.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.55 earnings per share. Research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share 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.