M&T Bank Corp Sells 967 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

M&T Bank Corp decreased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,996 shares of the scientific and technical instruments company’s stock after selling 967 shares during the period. M&T Bank Corp owned 0.05% of Teledyne Technologies worth $11,601,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TDY. JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 6.0% in 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 during the period. Proficio Capital Partners LLC bought a new stake in Teledyne Technologies in the 4th quarter valued at about $29,081,000. Jennison Associates LLC bought a new stake in Teledyne Technologies in the 4th quarter valued at about $19,310,000. State Street Corp boosted its holdings in Teledyne Technologies by 1.9% in 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 during the period. Finally, National Bank of Canada FI boosted its holdings in Teledyne Technologies by 217.5% in the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after purchasing an additional 36,867 shares during the period. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the company’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 owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,596 shares of company stock worth $18,678,177 in the last three months. 2.14% of the stock is owned by corporate insiders.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $490.55 on Friday. The company has a 50 day moving average of $490.68 and a 200-day moving average of $466.53. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.97 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

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, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm posted $5.44 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.