Wilson Asset Management International PTY Ltd. Sells 24,907 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Wilson Asset Management International PTY Ltd. cut its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,753 shares of the scientific and technical instruments company's stock after selling 24,907 shares during the quarter. Teledyne Technologies comprises about 1.6% of Wilson Asset Management International PTY Ltd.'s holdings, making the stock its 26th largest position. Wilson Asset Management International PTY Ltd.'s holdings in Teledyne Technologies were worth $5,850,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in 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 buying an additional 35 shares in the last quarter. Quarry LP bought a new stake in Teledyne Technologies during the fourth quarter worth about $28,000. NBC Securities Inc. bought a new stake in Teledyne Technologies during the first quarter worth about $28,000. Hurley Capital LLC bought a new stake in Teledyne Technologies during the fourth quarter worth about $33,000. Finally, Ancora Advisors LLC lifted its stake in 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 purchasing an additional 50 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDY has been the subject of several research analyst reports. Needham & Company LLC dropped their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company 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 note on Friday, May 9th. Bank of America lifted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. TD Securities reissued a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Stifel Nicolaus initiated coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $554.43.

Teledyne Technologies Stock Up 1.7%

TDY traded up $8.59 during trading on Thursday, hitting $518.10. 76,983 shares of the company's stock traded hands, compared to its average volume of 270,571. The company's 50 day simple moving average is $490.24 and its two-hundred day simple moving average is $486.04. The company has a current ratio of 2.19, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. Teledyne Technologies Incorporated has a 12-month low of $381.03 and a 12-month high of $522.50. The stock has a market capitalization of $24.28 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.40 and a beta of 1.04.

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 for the quarter, beating the consensus estimate of $4.92 by $0.03. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations 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 was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 EPS. Analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.