Teledyne Technologies Incorporated $TDY Stock Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 68.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 524 shares of the scientific and technical instruments company’s stock after selling 1,159 shares during the quarter. SteelPeak Wealth LLC’s holdings in Teledyne Technologies were worth $318,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TDY. Trust Co. of Vermont purchased a new position in Teledyne Technologies during the second quarter valued at $28,000. Allied Private Wealth LLC acquired a new stake in shares of Teledyne Technologies in the second quarter valued at about $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Teledyne Technologies during the first quarter worth about $27,000. Elevation Wealth Partners LLC increased its stake in shares of Teledyne Technologies by 1,025.0% during the third quarter. Elevation Wealth Partners LLC now owns 45 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 41 shares in the last quarter. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth about $28,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on TDY shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Teledyne Technologies in a research note on Wednesday, August 19th. Citigroup lifted their price objective on Teledyne Technologies from $677.00 to $680.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Stifel Nicolaus boosted their price objective on Teledyne Technologies from $750.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Needham & Company LLC increased their target price on Teledyne Technologies from $750.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Finally, Barclays raised their target price on Teledyne Technologies from $614.00 to $640.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $723.33.

Teledyne Technologies Trading Up 1.4%

Shares of TDY opened at $628.44 on Wednesday. Teledyne Technologies Incorporated has a 52-week low of $483.02 and a 52-week high of $697.67. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $620.19 and its two-hundred day moving average is $631.16. The stock has a market cap of $29.13 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $6.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.79 by $0.49. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.58 billion. Teledyne Technologies had a net margin of 15.29% and a return on equity of 10.56%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.20 earnings per share. Research analysts forecast that Teledyne Technologies Incorporated will post 24.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In related news, Director Simon Lorne sold 6,449 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the transaction, the director directly owned 55,783 shares in the company, valued at approximately $37,951,406.22. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company’s stock.

About Teledyne Technologies

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.