Bank of New York Mellon Corp Reduces Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Bank of New York Mellon Corp reduced its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 278,047 shares of the scientific and technical instruments company's stock after selling 5,812 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.59% of Teledyne Technologies worth $138,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Ironwood Investment Management LLC increased its position in Teledyne Technologies by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company's stock worth $1,335,000 after buying an additional 22 shares during the last quarter. Tidal Investments LLC grew its position in shares of Teledyne Technologies by 0.4% in the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock valued at $2,556,000 after purchasing an additional 22 shares in the last quarter. Keel Point LLC grew its position in shares of Teledyne Technologies by 4.5% in the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company's stock valued at $247,000 after purchasing an additional 23 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Teledyne Technologies by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,538 shares of the scientific and technical instruments company's stock valued at $3,254,000 after purchasing an additional 23 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Teledyne Technologies by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 947 shares of the scientific and technical instruments company's stock valued at $471,000 after purchasing an additional 24 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Trading Up 1.6%

NYSE:TDY traded up $8.06 during mid-day trading on Thursday, reaching $527.92. 494,982 shares of the company's stock traded hands, compared to its average volume of 272,331. Teledyne Technologies Incorporated has a 12-month low of $391.00 and a 12-month high of $530.60. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.44 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The company has a 50 day moving average price of $496.95 and a 200-day moving average price of $488.15.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. Bank of America lifted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Needham & Company LLC dropped their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. TD Securities reissued a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has a consensus rating of "Buy" and a consensus price target of $554.43.

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.