Texas Bank & Trust Co Buys New Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Texas Bank & Trust Co purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 850 shares of the scientific and technical instruments company's stock, valued at approximately $395,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in shares of Teledyne Technologies by 0.4% during the 4th quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock worth $2,556,000 after buying an additional 22 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Teledyne Technologies by 0.6% during the fourth quarter. Toronto Dominion Bank now owns 24,958 shares of the scientific and technical instruments company's stock worth $11,584,000 after acquiring an additional 151 shares during the period. Studio Investment Management LLC boosted its position in Teledyne Technologies by 10.1% in the fourth quarter. Studio Investment Management LLC now owns 295 shares of the scientific and technical instruments company's stock worth $137,000 after purchasing an additional 27 shares during the last quarter. Shell Asset Management Co. grew its stake in Teledyne Technologies by 250.1% in the 4th quarter. Shell Asset Management Co. now owns 1,278 shares of the scientific and technical instruments company's stock valued at $593,000 after purchasing an additional 913 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Teledyne Technologies by 10.5% during the 4th quarter. Royal Bank of Canada now owns 236,134 shares of the scientific and technical instruments company's stock valued at $109,596,000 after purchasing an additional 22,427 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Trading Down 0.3%

TDY traded down $1.30 on Thursday, hitting $487.93. 179,569 shares of the company were exchanged, compared to its average volume of 260,549. 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 12 month low of $380.63 and a 12 month high of $522.50. The stock has a market capitalization of $22.86 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. The firm has a fifty day simple moving average of $477.79 and a two-hundred day simple moving average of $482.18.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (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 company 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. Teledyne Technologies's revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. TD Securities restated a "buy" rating and set a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Needham & Company LLC lowered their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of "Buy" and an average target price of $542.50.

Insider Activity

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. The trade was a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

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.