Heritage Wealth Management LLC Makes New $365,000 Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Heritage Wealth Management LLC purchased a new position in Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 818 shares of the scientific and technical instruments company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDY. Vanguard Group Inc. raised its holdings in Teledyne Technologies by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock worth $2,222,688,000 after buying an additional 13,645 shares during the period. Aristotle Capital Management LLC acquired a new stake in Teledyne Technologies during the 3rd quarter worth about $698,325,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Teledyne Technologies by 26.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock worth $379,977,000 after buying an additional 193,544 shares during the period. JPMorgan Chase & Co. raised its holdings in Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock worth $376,965,000 after buying an additional 151,659 shares during the period. Finally, Northern Trust Corp raised its holdings in Teledyne Technologies by 8.0% during the 3rd quarter. Northern Trust Corp now owns 509,879 shares of the scientific and technical instruments company’s stock worth $208,326,000 after buying an additional 37,720 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TDY. Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $490.00 to $400.00 in a report on Friday, April 26th. TD Cowen dropped their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Needham & Company LLC lowered their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $470.83.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY traded down $0.84 during trading on Friday, reaching $384.76. The stock had a trading volume of 138,781 shares, compared to its average volume of 239,070. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $412.66 and a two-hundred day simple moving average of $413.68. The firm has a market capitalization of $18.23 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.64 and a beta of 1.04. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $4.53 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.14% of the stock is owned by company insiders.

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.