Walter Public Investments Inc. Sells 16,650 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Walter Public Investments Inc. lowered its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 48.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,056 shares of the scientific and technical instruments company’s stock after selling 16,650 shares during the period. Walter Public Investments Inc.’s holdings in Teledyne Technologies were worth $7,005,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Tortoise Investment Management LLC raised its position in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Weik Capital Management raised its position in shares of Teledyne Technologies by 0.5% during the fourth quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock worth $2,406,000 after acquiring an additional 25 shares during the last quarter. Linscomb Wealth Inc. lifted its stake in shares of Teledyne Technologies by 4.4% in the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock worth $270,000 after acquiring an additional 29 shares during the period. MJP Associates Inc. ADV boosted its holdings in Teledyne Technologies by 5.6% in the second quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock valued at $234,000 after acquiring an additional 32 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Teledyne Technologies by 32.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TDY. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, Vertical Research assumed coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $427.75 on Monday. The business has a 50-day simple moving average of $413.34 and a 200 day simple moving average of $406.05. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. The firm has a market capitalization of $20.27 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.00 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $4.67 earnings per share. Teledyne Technologies’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

Teledyne Technologies Company 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.