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

M&T Bank Corp decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,963 shares of the scientific and technical instruments company's stock after selling 17,933 shares during the period. M&T Bank Corp owned approximately 0.06% of Teledyne Technologies worth $11,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies during the 3rd quarter worth $27,000. American National Bank acquired a new stake in Teledyne Technologies in the second quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in Teledyne Technologies during the 3rd quarter worth approximately $32,000. Innealta Capital LLC purchased a new position in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,025 shares of company stock valued at $25,347,399. 1.88% of the stock is owned by insiders.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $4.14 during trading hours on Thursday, hitting $478.96. The company's stock had a trading volume of 233,052 shares, compared to its average volume of 242,216. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $467.11 and a 200-day moving average of $429.19. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.29 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $5.05 EPS. Teledyne Technologies's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.45 EPS for the current 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.