Citigroup Inc. Sells 22,779 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Citigroup Inc. lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 35.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,878 shares of the scientific and technical instruments company's stock after selling 22,779 shares during the quarter. Citigroup Inc. owned approximately 0.09% of Teledyne Technologies worth $17,891,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TDY. Wolff Wiese Magana LLC acquired a new stake in shares of Teledyne Technologies during the third quarter worth $27,000. American National Bank acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Tortoise Investment Management LLC increased its stake 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 acquiring an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC raised its position in shares of Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Up 1.4 %

TDY traded up $6.65 during trading on Thursday, hitting $485.68. The company had a trading volume of 201,541 shares, compared to its average volume of 242,628. The company has a market capitalization of $22.63 billion, a PE ratio of 24.55, a PEG ratio of 3.31 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The firm's 50-day moving average price is $459.04 and its 200 day moving average price is $424.04.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Needham & Company LLC increased their target price 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. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Bank of America raised Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $517.50.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies 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 transaction of $1,925,212.50. Following the sale, the chairman now directly owns 171,802 shares of the company's stock, valued at $84,268,881. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.88% of the company's stock.

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.