Teledyne Technologies Incorporated (NYSE:TDY) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,365 shares of the scientific and technical instruments company’s stock after acquiring an additional 999 shares during the period. LPL Financial LLC owned 0.06% of Teledyne Technologies worth $14,615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in shares of Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 35 shares during the period. Quarry LP purchased a new position in shares of Teledyne Technologies in the 4th quarter worth $28,000. NBC Securities Inc. purchased a new position in shares of Teledyne Technologies in the 1st quarter worth $28,000. Ancora Advisors LLC increased its holdings in Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. Finally, City Holding Co. acquired a new stake in Teledyne Technologies in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TDY shares. Wall Street Zen upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They issued a “buy” rating and a $626.00 target price on the stock. UBS Group raised their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, July 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 report on Thursday, April 24th. Finally, Morgan Stanley lifted their price target on Teledyne Technologies from $535.00 to $580.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $576.57.

Insider Activity at Teledyne Technologies

In other news, Director Michael T. Smith sold 1,975 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the sale, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the completion of the sale, the chief executive officer owned 10,391 shares of the company’s stock, valued at $5,771,265.31. This trade represents a 39.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,021 shares of company stock valued at $8,315,662. Corporate insiders own 1.50% of the company’s stock.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $549.65 on Thursday. The firm’s 50 day moving average is $520.17 and its 200-day moving average is $499.18. Teledyne Technologies Incorporated has a 1 year low of $403.78 and a 1 year high of $570.56. The firm has a market capitalization of $25.77 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.57 and a beta of 1.07. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21.

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 the consensus estimate of $5.05 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.58 earnings per share. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has initiated a share buyback program on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.