KBC Group NV Cuts Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

KBC Group NV reduced its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 72.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,057 shares of the scientific and technical instruments company's stock after selling 8,081 shares during the period. KBC Group NV's holdings in Teledyne Technologies were worth $1,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TDY. Ironwood Investment Management LLC raised its holdings in shares of Teledyne Technologies by 0.8% during the 4th quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company's stock worth $1,335,000 after acquiring an additional 22 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Teledyne Technologies by 0.4% in the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock valued at $2,556,000 after purchasing an additional 22 shares in the last quarter. Keel Point LLC increased its position in Teledyne Technologies by 4.5% in the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company's stock worth $247,000 after purchasing an additional 23 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Teledyne Technologies by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 947 shares of the scientific and technical instruments company's stock valued at $471,000 after purchasing an additional 24 shares in the last quarter. Finally, Sagespring Wealth Partners LLC raised its stake in Teledyne Technologies by 3.9% during the first quarter. Sagespring Wealth Partners LLC now owns 663 shares of the scientific and technical instruments company's stock valued at $330,000 after purchasing an additional 25 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Teledyne Technologies Trading Up 1.6%

Teledyne Technologies stock traded up $8.38 during midday trading on Friday, reaching $517.89. The stock had a trading volume of 215,956 shares, compared to its average volume of 271,625. Teledyne Technologies Incorporated has a 52-week low of $381.03 and a 52-week high of $522.50. The company has a fifty day moving average of $491.41 and a 200 day moving average of $486.33. The firm has a market cap 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 company has a quick ratio of 1.44, a current ratio of 2.19 and a debt-to-equity ratio of 0.30.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share 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 for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business posted $4.55 earnings per share. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share 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.