Palisade Capital Management LP Grows Position in Teledyne Technologies Incorporated (NYSE:TDY)

Palisade Capital Management LP grew its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,503 shares of the scientific and technical instruments company's stock after purchasing an additional 619 shares during the quarter. Palisade Capital Management LP owned approximately 0.07% of Teledyne Technologies worth $16,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock worth $26,000 after purchasing an additional 35 shares during the period. Quarry LP purchased a new stake in Teledyne Technologies in the 4th quarter worth approximately $28,000. NBC Securities Inc. bought a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $28,000. Hurley Capital LLC purchased a new position in shares of Teledyne Technologies during the fourth quarter valued at approximately $33,000. Finally, Ancora Advisors LLC raised its holdings 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 valued at $35,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Up 1.6%

Shares of TDY traded up $8.38 during mid-day trading on Thursday, reaching $517.89. The company had a trading volume of 215,956 shares, compared to its average volume of 271,625. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.19. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.39 and a beta of 1.04. The firm has a 50-day moving average price of $491.41 and a 200 day moving average price of $486.33. Teledyne Technologies Incorporated has a 52 week low of $381.03 and a 52 week high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted 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 the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm earned $4.55 EPS. Teledyne Technologies's quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analyst Upgrades and Downgrades

TDY has been the subject of several research reports. Needham & Company LLC decreased their price objective 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 increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Wall Street Zen raised 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 issued a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Stifel Nicolaus assumed coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $554.43.

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.