Janney Montgomery Scott LLC reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 0.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,342 shares of the scientific and technical instruments company’s stock after selling 109 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Teledyne Technologies were worth $5,969,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TDY. Accurate Wealth Management LLC bought a new stake in Teledyne Technologies during the 4th quarter valued at $28,000. CVA Family Office LLC bought a new position in Teledyne Technologies in the 4th quarter worth $30,000. Belpointe Asset Management LLC bought a new position in Teledyne Technologies in the 4th quarter worth $36,000. Beacon Capital Management LLC bought a new position in Teledyne Technologies in the 1st quarter worth $41,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Teledyne Technologies by 100.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 104 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 52 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.
Insider Activity
In other news, VP Melanie Susan Cibik sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $413.00, for a total transaction of $826,000.00. Following the sale, the vice president now owns 27,305 shares of the company’s stock, valued at approximately $11,276,965. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.14% of the company’s stock.
Teledyne Technologies Stock Performance
Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 EPS for the quarter, beating the consensus estimate of $4.43 by $0.10. Teledyne Technologies had a net margin of 13.67% and a return on equity of 10.98%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm posted $4.27 EPS. Teledyne Technologies’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts expect that Teledyne Technologies Incorporated will post 19.12 EPS for the current fiscal year.
Wall Street Analyst Weigh In
TDY has been the subject of several research reports. Credit Suisse Group decreased their price objective on shares of Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Bank of America upped their price objective on shares of Teledyne Technologies from $533.00 to $565.00 in a report on Thursday, May 25th. Needham & Company LLC reduced their target price on shares of Teledyne Technologies from $498.00 to $470.00 in a research report on Thursday, April 27th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $505.50.
Teledyne Technologies Profile
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
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