First Citizens Bank & Trust Co. Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

First Citizens Bank & Trust Co. purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,209 shares of the scientific and technical instruments company’s stock, valued at approximately $2,325,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Teledyne Technologies by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock valued at $2,222,688,000 after purchasing an additional 13,645 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Teledyne Technologies by 1.3% during the 1st quarter. BlackRock Inc. now owns 3,659,332 shares of the scientific and technical instruments company’s stock worth $1,637,039,000 after purchasing an additional 46,007 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Teledyne Technologies by 2.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,717,685 shares of the scientific and technical instruments company’s stock valued at $1,086,830,000 after purchasing an additional 60,379 shares in the last quarter. State Street Corp increased its holdings in shares of Teledyne Technologies by 1.7% in the second quarter. State Street Corp now owns 1,928,047 shares of the scientific and technical instruments company’s stock valued at $792,639,000 after purchasing an additional 33,066 shares during the last quarter. Finally, Aristotle Capital Management LLC purchased a new position in Teledyne Technologies during the third quarter worth approximately $698,325,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDY. Needham & Company LLC cut their target price on Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies has an average rating of “Buy” and an average target price of $515.67.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock worth $2,890,621 over the last 90 days. Corporate insiders own 1.88% of the company’s stock.

Teledyne Technologies Trading Down 0.7 %

NYSE TDY traded down $2.99 during trading hours on Tuesday, reaching $421.94. The company had a trading volume of 73,332 shares, compared to its average volume of 208,784. Teledyne Technologies Incorporated has a 1-year low of $364.98 and a 1-year high of $448.71. The stock has a market capitalization of $19.99 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 2.76 and a beta of 1.02. The stock has a 50-day moving average of $426.42 and a 200 day moving average of $415.55. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 EPS for the quarter, beating the consensus estimate of $5.04 by $0.40. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $4.94 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 20.56 earnings per share for the current fiscal year.

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.