Congress Asset Management Co. Cuts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Congress Asset Management Co. decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 211,755 shares of the scientific and technical instruments company's stock after selling 16,435 shares during the period. Congress Asset Management Co. owned approximately 0.45% of Teledyne Technologies worth $105,392,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LPL Financial LLC boosted its stake in shares of Teledyne Technologies by 8.5% in the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock valued at $13,166,000 after purchasing an additional 2,224 shares in the last quarter. Amundi boosted its position in Teledyne Technologies by 11.9% during the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock valued at $57,687,000 after buying an additional 13,244 shares during the period. ING Groep NV boosted its position in Teledyne Technologies by 144.9% during the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company's stock valued at $2,763,000 after buying an additional 3,522 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Teledyne Technologies by 10.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company's stock valued at $3,024,000 after buying an additional 640 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock valued at $503,338,000 after buying an additional 64,617 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Trading Up 0.1%

NYSE:TDY opened at $500.52 on Friday. The company has a 50-day moving average price of $476.24 and a 200-day moving average price of $483.59. Teledyne Technologies Incorporated has a 12 month low of $380.63 and a 12 month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 3.14 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the company posted $4.55 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. TD Securities reissued a "buy" rating and set a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of "Buy" and an average target price of $542.50.

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.

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