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

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 77.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,821 shares of the scientific and technical instruments company's stock after selling 9,699 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Teledyne Technologies were worth $1,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDY. NBC Securities Inc. purchased a new position in shares of Teledyne Technologies during the first quarter valued at approximately $28,000. Quarry LP purchased a new position in Teledyne Technologies during the 4th quarter worth $28,000. Hurley Capital LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter worth $33,000. Ancora Advisors LLC raised its holdings in shares of 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 valued at $35,000 after purchasing an additional 50 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of Teledyne Technologies during the first quarter valued at about $38,000. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Bank of America boosted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Stifel Nicolaus started coverage on shares of Teledyne Technologies in a research report on Tuesday. They set a "buy" rating and a $626.00 target price for the company. Needham & Company LLC lowered their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, TD Securities restated a "buy" rating and set a $550.00 price target on shares of Teledyne Technologies in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $554.43.

Teledyne Technologies Price Performance

NYSE TDY traded up $2.77 during trading hours on Friday, reaching $509.44. 373,476 shares of the stock traded hands, compared to its average volume of 270,538. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The stock has a 50 day simple moving average of $485.91 and a two-hundred day simple moving average of $485.06. Teledyne Technologies Incorporated has a 1 year low of $381.03 and a 1 year high of $522.50. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 2.34 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion during 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%. Teledyne Technologies's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.55 EPS. On average, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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.