Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 11.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,149 shares of the scientific and technical instruments company's stock after selling 682 shares during the quarter. Fifth Third Bancorp's holdings in Teledyne Technologies were worth $2,563,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TDY. Quarry LP acquired a new position in Teledyne Technologies during the fourth quarter worth approximately $28,000. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies during the 1st quarter worth $28,000. Hurley Capital LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter worth $33,000. Ancora Advisors LLC boosted its holdings in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the last quarter. Finally, City Holding Co. purchased a new stake in Teledyne Technologies during the first quarter valued at about $38,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Down 0.3%

Shares of TDY stock traded down $1.60 on Wednesday, hitting $489.05. The stock had a trading volume of 172,043 shares, compared to its average volume of 267,535. The stock's 50 day moving average is $481.88 and its 200-day moving average is $484.29. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.31 and a beta of 1.04. Teledyne Technologies Incorporated has a 52-week low of $380.63 and a 52-week high of $522.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the prior year, the company posted $4.55 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TDY. TD Securities reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Bank of America boosted their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Needham & Company LLC reduced their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of "Buy" and an average target price of $542.50.

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.