Envestnet Portfolio Solutions Inc. Sells 9,699 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Envestnet Portfolio Solutions Inc. cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 77.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,821 shares of the scientific and technical instruments company's stock after selling 9,699 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Teledyne Technologies were worth $1,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TDY. Quarry LP bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at $28,000. NBC Securities Inc. purchased a new position in Teledyne Technologies during the 1st quarter valued at about $28,000. Hurley Capital LLC bought a new stake in Teledyne Technologies during the fourth quarter worth about $33,000. Ancora Advisors LLC grew its holdings in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 50 shares during the period. Finally, City Holding Co. bought a new position in shares of Teledyne Technologies during the first quarter valued at approximately $38,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Performance

TDY stock traded up $1.07 on Wednesday, hitting $495.70. The company had a trading volume of 185,382 shares, compared to its average volume of 269,094. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.32 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The stock's 50-day simple moving average is $484.29 and its 200 day simple moving average is $484.72. Teledyne Technologies Incorporated has a 12-month low of $380.63 and a 12-month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the business posted $4.55 EPS. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TDY has been the topic of a number of analyst reports. TD Securities reissued a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Stifel Nicolaus started coverage on Teledyne Technologies in a report on Tuesday. They issued a "buy" rating and a $626.00 target price on the stock. Needham & Company LLC cut their target price on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Bank of America increased their price objective 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $554.43.

About Teledyne Technologies

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.