First Citizens Bank & Trust Co. Sells 9,211 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

First Citizens Bank & Trust Co. lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 92.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 717 shares of the scientific and technical instruments company's stock after selling 9,211 shares during the period. First Citizens Bank & Trust Co.'s holdings in Teledyne Technologies were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in Teledyne Technologies during the first quarter worth about $28,000. Quarry LP acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $28,000. Hurley Capital LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $33,000. Ancora Advisors LLC increased its holdings 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 valued at $35,000 after purchasing an additional 50 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Teledyne Technologies during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Trading Up 0.3%

Shares of NYSE:TDY traded up $1.43 during mid-day trading on Thursday, reaching $499.67. 129,980 shares of the company's stock were exchanged, compared to its average volume of 265,612. The firm has a market capitalization of $23.41 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.14 and a beta of 1.04. The business's fifty day moving average price is $478.16 and its 200-day moving average price is $484.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a twelve month low of $380.63 and a twelve month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.