Nisa Investment Advisors LLC Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Nisa Investment Advisors LLC trimmed its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,363 shares of the scientific and technical instruments company's stock after selling 701 shares during the quarter. Nisa Investment Advisors LLC's holdings in Teledyne Technologies were worth $5,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in Teledyne Technologies by 205.9% in the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 35 shares during the period. Quarry LP acquired a new position in Teledyne Technologies during the 4th quarter worth approximately $28,000. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies during the first quarter worth $28,000. Hurley Capital LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $33,000. Finally, Ancora Advisors LLC increased its position in shares of Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Trading Down 0.3%

NYSE TDY traded down $1.70 on Tuesday, hitting $535.03. 353,697 shares of the stock were exchanged, compared to its average volume of 273,404. Teledyne Technologies Incorporated has a 52-week low of $391.58 and a 52-week high of $540.81. The firm has a market capitalization of $25.07 billion, a P/E ratio of 30.57, a P/E/G ratio of 2.49 and a beta of 1.04. The stock has a fifty day moving average price of $497.98 and a two-hundred day moving average price of $488.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. Teledyne Technologies's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 earnings per share. Research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analysts Set New Price Targets

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