Creative Planning Sells 26,195 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Creative Planning decreased its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 87.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,692 shares of the scientific and technical instruments company's stock after selling 26,195 shares during the quarter. Creative Planning's holdings in Teledyne Technologies were worth $1,432,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Tortoise Investment Management LLC boosted its holdings in Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock worth $29,000 after acquiring an additional 24 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in Teledyne Technologies by 3.9% in the second quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company's stock worth $279,000 after buying an additional 27 shares during the last quarter. Linscomb Wealth Inc. grew its holdings in shares of Teledyne Technologies by 4.4% during the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company's stock valued at $270,000 after buying an additional 29 shares during the last quarter. MJP Associates Inc. ADV raised its holdings in Teledyne Technologies by 5.6% in the 2nd quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company's stock worth $234,000 after acquiring an additional 32 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Teledyne Technologies by 32.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company's stock valued at $54,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $4.39 on Wednesday, hitting $445.64. 191,614 shares of the company's stock were exchanged, compared to its average volume of 239,442. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The stock has a market capitalization of $20.85 billion, a PE ratio of 24.10, a PEG ratio of 3.09 and a beta of 1.01. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a 50-day simple moving average of $425.23 and a 200-day simple moving average of $407.81.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $4.67 earnings per share. Teledyne Technologies's revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.43 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on TDY. Needham & Company LLC lifted their target price on Teledyne Technologies from $455.00 to $482.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Vertical Research assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $470.00 price target for the company. Finally, StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $450.50.

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.