US Bancorp DE Reduces Position in Teledyne Technologies Incorporated (NYSE:TDY)

US Bancorp DE lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,737 shares of the scientific and technical instruments company’s stock after selling 120 shares during the quarter. US Bancorp DE’s holdings in Teledyne Technologies were worth $3,591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Teledyne Technologies by 1.9% during the third 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 during the period. Janus Henderson Group PLC boosted its stake in shares of Teledyne Technologies by 0.6% during the third 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 during the period. Geode Capital Management LLC boosted its stake in shares of Teledyne Technologies by 2.4% during the third 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 during the period. JPMorgan Chase & Co. boosted its stake in shares of Teledyne Technologies by 6.0% during the third 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 during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Teledyne Technologies by 10.5% during the fourth 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 during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $497.38 on Thursday. The stock has a fifty day moving average of $490.40 and a 200 day moving average of $466.36. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.44 earnings per share. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $538.00.

Insider Buying and Selling 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 transaction, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,596 shares of company stock valued at $18,678,177. 2.14% of the stock is currently owned by company insiders.

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.