Universal Beteiligungs und Servicegesellschaft mbH Lowers Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Universal Beteiligungs und Servicegesellschaft mbH trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,283 shares of the scientific and technical instruments company's stock after selling 886 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Teledyne Technologies worth $13,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in shares of 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 worth $26,000 after buying an additional 35 shares during the period. Quarry LP purchased a new position in shares of Teledyne Technologies in the fourth quarter worth about $28,000. NBC Securities Inc. purchased a new position in shares of Teledyne Technologies in the first quarter worth about $28,000. Hurley Capital LLC purchased a new position in shares of Teledyne Technologies in the fourth quarter worth about $33,000. Finally, Ancora Advisors LLC increased 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 worth $35,000 after buying an additional 50 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. UBS Group raised their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday. Needham & Company LLC cut their target price on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. 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, Morgan Stanley raised their target price on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $0.65 during mid-day trading on Monday, hitting $556.54. The stock had a trading volume of 55,126 shares, compared to its average volume of 326,677. The firm has a market capitalization of $26.08 billion, a P/E ratio of 30.69, a P/E/G ratio of 2.62 and a beta of 1.04. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm's 50 day moving average is $510.59 and its 200 day moving average is $494.89. Teledyne Technologies Incorporated has a one year low of $397.78 and a one year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the company earned $4.58 EPS. The business's revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its board has initiated a share buyback plan on Wednesday, July 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.