Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 27.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,831 shares of the scientific and technical instruments company's stock after selling 2,153 shares during the period. Fifth Third Bancorp's holdings in Teledyne Technologies were worth $2,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies during the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in Teledyne Technologies during the 3rd quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies in the third quarter worth $39,000. Quarry LP lifted its stake in shares of Teledyne Technologies by 706.3% during the second quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company's stock worth $50,000 after buying an additional 113 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings 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 buying an additional 108 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie Susan Cibik sold 2,538 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $513.02, for a total transaction of $1,302,044.76. Following the transaction, the executive vice president now directly owns 32,100 shares of the company's stock, valued at approximately $16,467,942. This trade represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,116 shares of company stock worth $33,505,935 in the last quarter. Company insiders own 2.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TDY. Bank of America upgraded Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price objective for the company. TD Cowen increased their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of "Buy" and an average price target of $531.00.

Teledyne Technologies Price Performance

TDY stock traded up $0.62 during midday trading on Tuesday, reaching $509.22. The stock had a trading volume of 220,792 shares, compared to its average volume of 267,681. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $518.85. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01. The company's fifty day simple moving average is $475.48 and its 200 day simple moving average is $449.37. The company has a current ratio of 2.33, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

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 (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the prior year, the company earned $5.44 EPS. Teledyne Technologies's revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current fiscal year.

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.