Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,294 shares of the scientific and technical instruments company's stock after selling 2,702 shares during the quarter. M&T Bank Corp's holdings in Teledyne Technologies were worth $11,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in shares of Teledyne Technologies by 205.9% in the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after purchasing an additional 35 shares during the period. Quarry LP acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $28,000. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies in the first quarter valued at about $28,000. Hurley Capital LLC purchased a new position in shares of Teledyne Technologies in the fourth quarter worth about $33,000. Finally, Ancora Advisors LLC lifted its stake in shares of 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 worth $35,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TDY. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. TD Securities reissued a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a research note on Thursday, April 24th. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target on the stock. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America raised their price target 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $554.43.

Teledyne Technologies Trading Up 1.6%

TDY stock traded up $8.06 during trading on Thursday, reaching $527.92. 494,982 shares of the stock were exchanged, compared to its average volume of 271,936. The company has a current ratio of 2.19, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $496.95 and a 200-day moving average price of $488.15. Teledyne Technologies Incorporated has a 1 year low of $382.81 and a 1 year high of $530.60. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.42 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. Teledyne Technologies's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.55 earnings per share. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current 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.