Teledyne Technologies Incorporated (NYSE:TDY) Stock Position Reduced by Citigroup Inc.

Citigroup Inc. decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 35.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,878 shares of the scientific and technical instruments company’s stock after selling 22,779 shares during the quarter. Citigroup Inc.’s holdings in Teledyne Technologies were worth $17,891,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TDY. O Shaughnessy Asset Management LLC raised its holdings in shares of Teledyne Technologies by 21.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the scientific and technical instruments company’s stock worth $329,000 after acquiring an additional 133 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of Teledyne Technologies by 14.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 5,951 shares of the scientific and technical instruments company’s stock valued at $2,555,000 after buying an additional 744 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Teledyne Technologies by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 75,567 shares of the scientific and technical instruments company’s stock valued at $32,442,000 after buying an additional 919 shares in the last quarter. Tidal Investments LLC increased its holdings in Teledyne Technologies by 131.5% in the first quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock worth $1,604,000 after buying an additional 2,123 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Teledyne Technologies in the first quarter valued at approximately $6,953,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is owned by company insiders.

Teledyne Technologies Stock Up 1.4 %

Teledyne Technologies stock opened at $485.68 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The firm has a fifty day moving average price of $458.07 and a two-hundred day moving average price of $423.61. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 3.31 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.05 EPS. As a group, analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TDY. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen boosted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $517.50.

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.