Integrated Wealth Concepts LLC Cuts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Integrated Wealth Concepts LLC trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,705 shares of the scientific and technical instruments company’s stock after selling 34 shares during the period. Integrated Wealth Concepts LLC’s holdings in Teledyne Technologies were worth $1,184,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TDY. Tortoise Investment Management LLC lifted its position in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 24 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Teledyne Technologies by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after purchasing an additional 24 shares in the last quarter. Crumly & Associates Inc. grew its stake in Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after buying an additional 25 shares during the last quarter. Raymond James Trust N.A. increased its position in Teledyne Technologies by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after buying an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after buying an additional 26 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on TDY. TD Cowen lifted their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC lifted their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $517.50.

Teledyne Technologies Stock Down 0.7 %

TDY stock opened at $473.55 on Monday. The company has a market capitalization of $22.07 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 3.32 and a beta of 1.01. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The firm’s fifty day simple moving average is $464.41 and its 200-day simple moving average is $427.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $5.05 earnings per share. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.