Bank of New York Mellon Corp Sells 5,812 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Bank of New York Mellon Corp reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 278,047 shares of the scientific and technical instruments company's stock after selling 5,812 shares during the period. Bank of New York Mellon Corp owned 0.59% of Teledyne Technologies worth $138,387,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TDY. LPL Financial LLC grew its holdings in Teledyne Technologies by 8.5% during the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock worth $13,166,000 after acquiring an additional 2,224 shares during the period. Amundi grew its holdings in Teledyne Technologies by 11.9% during the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock worth $57,687,000 after acquiring an additional 13,244 shares during the period. Asset Management One Co. Ltd. grew its holdings in Teledyne Technologies by 4.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock worth $19,061,000 after acquiring an additional 1,712 shares during the period. SG Americas Securities LLC acquired a new stake in Teledyne Technologies during the 1st quarter worth about $6,725,000. Finally, QRG Capital Management Inc. acquired a new stake in Teledyne Technologies during the 1st quarter worth about $275,000. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on TDY shares. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Bank of America increased their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Needham & Company LLC decreased their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. TD Securities restated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Stifel Nicolaus started coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $554.43.

Teledyne Technologies Stock Up 0.5%

Shares of TDY stock traded up $2.87 on Friday, hitting $530.39. The stock had a trading volume of 392,350 shares, compared to its average volume of 272,809. The business has a 50 day moving average of $496.95 and a 200 day moving average of $488.15. The stock has a market cap of $24.85 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth 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. Teledyne Technologies Incorporated has a 12-month low of $391.00 and a 12-month high of $534.42.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced 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. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned $4.55 EPS. The company's revenue was up 7.4% compared to the same quarter last year. As a group, analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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.