US Bancorp DE Lowers Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

US Bancorp DE lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,737 shares of the scientific and technical instruments company’s stock after selling 120 shares during the quarter. US Bancorp DE’s holdings in Teledyne Technologies were worth $3,591,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. SVB Wealth LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter worth about $5,935,000. Mutual of America Capital Management LLC increased its holdings in Teledyne Technologies by 1.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 16,254 shares of the scientific and technical instruments company’s stock worth $7,544,000 after buying an additional 266 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in Teledyne Technologies by 2.6% in the 4th quarter. Dynasty Wealth Management LLC now owns 1,380 shares of the scientific and technical instruments company’s stock worth $640,000 after buying an additional 35 shares in the last quarter. Private Trust Co. NA increased its holdings 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 worth $80,000 after buying an additional 52 shares in the last quarter. Finally, Linscomb Wealth Inc. increased its holdings in Teledyne Technologies by 14.1% in the 4th quarter. Linscomb Wealth Inc. now owns 793 shares of the scientific and technical instruments company’s stock worth $368,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity

In other news, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value 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. The trade was 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 in the last ninety days. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies Trading Up 0.9 %

Teledyne Technologies stock opened at $497.38 on Thursday. The business has a 50-day simple moving average of $490.40 and a two-hundred day simple moving average of $466.36. The company has a market cap of $23.29 billion, a P/E ratio of 28.87, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week 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.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.44 EPS. Analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analyst Weigh In

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

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.