National Bank of Canada FI Reduces Position in Teledyne Technologies Incorporated (NYSE:TDY)

National Bank of Canada FI reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,026 shares of the scientific and technical instruments company's stock after selling 15,793 shares during the quarter. National Bank of Canada FI owned about 0.08% of Teledyne Technologies worth $17,649,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at $42,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the fourth quarter valued at $46,000. Tortoise Investment Management LLC boosted its position in Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock valued at $58,000 after acquiring an additional 48 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company's stock worth $80,000 after acquiring an additional 52 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the topic of several research analyst reports. Needham & Company LLC restated a "buy" rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America boosted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 price objective for the company. Finally, StockNews.com downgraded shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $548.00.

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Teledyne Technologies Stock Down 7.5 %

TDY traded down $35.28 during trading on Friday, hitting $436.32. 433,297 shares of the company's stock were exchanged, compared to its average volume of 256,747. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The stock has a market cap of $20.44 billion, a P/E ratio of 25.32, a PEG ratio of 3.14 and a beta of 1.03. The business's 50 day moving average is $499.21 and its two-hundred day moving average is $476.72. 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 - Get Free Report) last posted its earnings results 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 company 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%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.44 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 10,482 shares of the company's stock, 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. Over the last 90 days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is owned by corporate insiders.

About Teledyne Technologies

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.