First Citizens Bank & Trust Co. Acquires New Position in Teledyne Technologies Incorporated (NYSE:TDY)

First Citizens Bank & Trust Co. purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,209 shares of the scientific and technical instruments company's stock, valued at approximately $2,325,000.

A number of other large investors have also made changes to their positions in TDY. Bruce G. Allen Investments LLC acquired a new position in Teledyne Technologies in the 4th quarter valued at approximately $28,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Teledyne Technologies in the 3rd quarter valued at approximately $28,000. Benjamin Edwards Inc. increased its stake in Teledyne Technologies by 137.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 69 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 40 shares during the period. CVA Family Office LLC acquired a new position in Teledyne Technologies in the 4th quarter valued at approximately $31,000. Finally, Anchor Investment Management LLC acquired a new position in Teledyne Technologies in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Insider Activity at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the transaction, the director now owns 67,288 shares of the company's stock, valued at approximately $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares in the company, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock worth $2,890,621 in the last ninety days. 1.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TDY shares. Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $522.00 to $510.00 and set a "buy" rating on the stock in a research note on Wednesday, January 24th. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, February 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $515.67.

Teledyne Technologies Stock Down 0.6 %

TDY stock traded down $2.60 during trading hours on Tuesday, hitting $422.34. The company's stock had a trading volume of 155,096 shares, compared to its average volume of 210,103. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $20.01 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.76 and a beta of 1.02. Teledyne Technologies Incorporated has a 12 month low of $364.98 and a 12 month high of $448.71. The stock has a 50 day moving average price of $426.02 and a two-hundred day moving average price of $415.60.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.40. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. Teledyne Technologies's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.94 EPS. On average, equities research analysts expect that Teledyne Technologies Incorporated will post 20.56 earnings per share for the current year.

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.