M&T Bank Corp Raises Position in Teledyne Technologies Incorporated (NYSE:TDY)

M&T Bank Corp lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 45.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,185 shares of the scientific and technical instruments company's stock after purchasing an additional 5,664 shares during the period. M&T Bank Corp's holdings in Teledyne Technologies were worth $8,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its position in Teledyne Technologies by 51.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 670 shares of the scientific and technical instruments company's stock valued at $299,000 after buying an additional 227 shares during the period. Running Oak Capital LLC raised its position in Teledyne Technologies by 19.6% during the fourth quarter. Running Oak Capital LLC now owns 20,250 shares of the scientific and technical instruments company's stock valued at $9,037,000 after buying an additional 3,319 shares during the period. Natixis Advisors L.P. raised its position in Teledyne Technologies by 4.8% during the fourth quarter. Natixis Advisors L.P. now owns 88,448 shares of the scientific and technical instruments company's stock valued at $39,472,000 after buying an additional 4,011 shares during the period. Heritage Wealth Management LLC acquired a new position in Teledyne Technologies during the fourth quarter valued at $365,000. Finally, FFT Wealth Management LLC acquired a new position in Teledyne Technologies during the fourth quarter valued at $235,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares of the company's stock, valued at approximately $28,711,789.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.14% of the company's stock.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $5.10 during mid-day trading on Monday, hitting $390.44. 225,481 shares of the company's stock traded hands, compared to its average volume of 242,095. The firm has a 50 day moving average of $410.99 and a two-hundred day moving average of $413.62. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company's revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $4.53 EPS. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TDY has been the topic of several research reports. Bank of America lowered Teledyne Technologies from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. TD Cowen decreased their price target on Teledyne Technologies from $475.00 to $450.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Needham & Company LLC decreased their price target on Teledyne Technologies from $510.00 to $455.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com downgraded Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $470.83.

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.