Chevy Chase Trust Holdings LLC Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,479 shares of the scientific and technical instruments company's stock after selling 627 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Teledyne Technologies worth $11,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TDY. Exchange Traded Concepts LLC raised its stake in shares of Teledyne Technologies by 432.0% during the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company's stock valued at $58,000 after acquiring an additional 108 shares during the last quarter. Creative Planning raised its stake in shares of Teledyne Technologies by 13.3% during the third quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company's stock valued at $1,831,000 after acquiring an additional 492 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company's stock valued at $298,000 after acquiring an additional 26 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Teledyne Technologies by 1.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,875 shares of the scientific and technical instruments company's stock valued at $2,571,000 after acquiring an additional 80 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Teledyne Technologies by 36.1% during the third quarter. Blue Trust Inc. now owns 1,447 shares of the scientific and technical instruments company's stock valued at $633,000 after acquiring an additional 384 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred 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 sale, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Down 0.2 %

TDY traded down $0.88 during midday trading on Thursday, reaching $501.19. The company's stock had a trading volume of 140,754 shares, compared to its average volume of 246,362. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 3.11 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The stock's 50-day moving average is $484.46 and its 200-day moving average is $459.91.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts' consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.44 earnings per share. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analyst Weigh In

TDY has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price target for the company. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $538.00.

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.