M&T Bank Corp Has $11.60 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

M&T Bank Corp reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 3.7% in the 4th quarter, HoldingsChannel reports. The fund owned 24,996 shares of the scientific and technical instruments company’s stock after selling 967 shares during the period. M&T Bank Corp’s holdings in Teledyne Technologies were worth $11,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Teledyne Technologies in the 3rd quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies in the 3rd quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the 4th quarter valued at approximately $46,000. Private Trust Co. NA increased its position in Teledyne Technologies by 43.0% in the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after acquiring an additional 52 shares during the period. Finally, Jones Financial Companies Lllp increased its position in Teledyne Technologies by 31.6% in the 4th quarter. Jones Financial Companies Lllp now owns 200 shares of the scientific and technical instruments company’s stock valued at $93,000 after acquiring an additional 48 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,596 shares of company stock valued at $18,678,177 over the last ninety days. 2.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies presently has a consensus rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Trading Down 1.3 %

TDY opened at $490.55 on Friday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $490.68 and a 200-day moving average of $466.53. The stock has a market cap of $22.97 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.44 earnings per share. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS 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.