Chevy Chase Trust Holdings LLC Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,479 shares of the scientific and technical instruments company’s stock after selling 627 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Teledyne Technologies were worth $11,361,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. State Street Corp raised its position in Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC raised its position in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after purchasing an additional 9,368 shares in the last quarter. Geode Capital Management LLC raised its position in Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after purchasing an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. raised 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 valued at $503,338,000 after purchasing an additional 64,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Teledyne Technologies by 10.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after purchasing an additional 30,157 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TDY. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. 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 reissued a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $538.00.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $489.74 on Monday. The company has a market capitalization of $22.82 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.19 and a beta of 1.03. The business’s 50 day moving average is $483.00 and its two-hundred day moving average is $458.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business posted $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

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.