Wallace Advisory Group LLC Buys 125 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Wallace Advisory Group LLC raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 18.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 797 shares of the scientific and technical instruments company’s stock after purchasing an additional 125 shares during the quarter. Wallace Advisory Group LLC’s holdings in Teledyne Technologies were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC increased its stake in shares of Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 24 shares during the period. Weik Capital Management increased its position in Teledyne Technologies by 0.5% during the 4th quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock valued at $2,406,000 after purchasing an additional 25 shares during the period. Summit Trail Advisors LLC increased its position in Teledyne Technologies by 3.9% during the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $279,000 after purchasing an additional 27 shares during the period. Linscomb Wealth Inc. increased its position in Teledyne Technologies by 4.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after purchasing an additional 29 shares during the period. Finally, MJP Associates Inc. ADV increased its position in Teledyne Technologies by 5.6% during the 2nd quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock valued at $234,000 after purchasing an additional 32 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $437.66 on Tuesday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The business has a 50-day simple moving average of $421.20 and a two-hundred day simple moving average of $406.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Vertical Research assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective on the stock. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $466.40.

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.