Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 16.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,168 shares of the scientific and technical instruments company's stock after selling 4,686 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Teledyne Technologies worth $12,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Teledyne Technologies during the 1st quarter worth $28,000. Quarry LP bought a new position in shares of Teledyne Technologies during the 4th quarter worth $28,000. Hurley Capital LLC bought a new position in shares of Teledyne Technologies during the 4th quarter worth $33,000. Finally, Ancora Advisors LLC grew its position in shares of Teledyne Technologies by 192.3% during the 4th 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 in the last quarter. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TDY. Needham & Company LLC dropped their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group increased their price target on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday. TD Securities reissued a "buy" rating and set a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Stifel Nicolaus started coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Stock Up 1.1%

Shares of NYSE TDY traded up $6.07 during mid-day trading on Friday, reaching $556.00. 552,984 shares of the company were exchanged, compared to its average volume of 438,381. The firm has a 50-day moving average of $510.59 and a 200 day moving average of $494.43. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Teledyne Technologies Incorporated has a 1 year low of $397.78 and a 1 year high of $570.56. The stock has a market cap of $26.05 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.59 and a beta of 1.04.

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

Teledyne Technologies declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.