First Citizens Bank & Trust Co. Has $4.61 Million Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

First Citizens Bank & Trust Co. increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,928 shares of the scientific and technical instruments company’s stock after buying an additional 43 shares during the period. First Citizens Bank & Trust Co.’s holdings in Teledyne Technologies were worth $4,608,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in Teledyne Technologies during the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Quarry LP increased its stake in shares of Teledyne Technologies by 706.3% in the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 113 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 108 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 21.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,525 shares of company stock worth $26,080,464. 2.14% of the stock is owned by corporate insiders.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $515.00 on Friday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $518.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.35. The business has a fifty day moving average price of $473.74 and a 200-day moving average price of $447.34. The company has a market capitalization of $24.00 billion, a PE ratio of 29.89, a PEG ratio of 3.24 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1,451,400 billion. During the same period last year, the company earned $5.44 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TDY shares. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC increased their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and a consensus target price of $531.00.

Teledyne Technologies Company 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.