Comerica Bank Reduces Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Comerica Bank lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,190 shares of the scientific and technical instruments company’s stock after selling 341 shares during the period. Comerica Bank’s holdings in Teledyne Technologies were worth $4,729,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Barclays PLC lifted its stake in Teledyne Technologies by 4.9% in the 3rd quarter. Barclays PLC now owns 102,490 shares of the scientific and technical instruments company’s stock valued at $44,854,000 after buying an additional 4,765 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies in the third quarter valued at $39,000. Principal Financial Group Inc. boosted its stake in shares of Teledyne Technologies by 1.7% during the third quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company’s stock valued at $24,443,000 after acquiring an additional 915 shares during the last quarter. JPMorgan Chase & Co. increased its position in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Teledyne Technologies by 36.0% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the scientific and technical instruments company’s stock valued at $372,000 after purchasing an additional 212 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Securities reiterated a “buy” rating and set a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Monday, April 28th. Needham & Company LLC decreased their price objective on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Bank of America upped their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Teledyne Technologies has a consensus rating of “Moderate Buy” and an average target price of $542.50.

Teledyne Technologies Stock Down 0.1 %

Shares of NYSE TDY opened at $478.34 on Tuesday. The stock has a market capitalization of $22.41 billion, a PE ratio of 27.76, a P/E/G ratio of 3.14 and a beta of 1.06. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $478.80 and a 200-day moving average of $479.82. Teledyne Technologies Incorporated has a 52-week low of $380.63 and a 52-week high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.03. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 earnings per share. On average, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Buying and Selling

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now directly owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,413 shares of company stock valued at $4,846,536. 1.50% of the stock is currently owned by corporate insiders.

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.