Central Pacific Bank Trust Division Buys New Shares in Teledyne Technologies Incorporated (NYSE:TDY)

Central Pacific Bank Trust Division purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the first quarter, HoldingsChannel.com reports. The firm purchased 418 shares of the scientific and technical instruments company’s stock, valued at approximately $178,000.

Other institutional investors also recently made changes to their positions in the company. Norden Group LLC boosted its stake in Teledyne Technologies by 1.2% during the 4th quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock valued at $959,000 after acquiring an additional 25 shares during the last quarter. Weik Capital Management raised its stake in shares of Teledyne Technologies by 0.5% in the 4th quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock valued at $2,406,000 after purchasing an additional 25 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Teledyne Technologies by 23.1% during the fourth quarter. Van ECK Associates Corp now owns 181 shares of the scientific and technical instruments company’s stock worth $81,000 after purchasing an additional 34 shares during the last quarter. Czech National Bank grew its stake in Teledyne Technologies by 0.4% in the fourth quarter. Czech National Bank now owns 8,264 shares of the scientific and technical instruments company’s stock worth $3,688,000 after purchasing an additional 36 shares in the last quarter. Finally, First National Trust Co increased its holdings in Teledyne Technologies by 0.4% in the first quarter. First National Trust Co now owns 11,011 shares of the scientific and technical instruments company’s stock valued at $4,727,000 after buying an additional 40 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TDY. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Bank of America cut Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $490.00 to $400.00 in a research note on Friday, April 26th. TD Cowen decreased their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC dropped their target price on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $470.83.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $2.94 during midday trading on Wednesday, reaching $384.63. 6,411 shares of the company traded hands, compared to its average volume of 244,172. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. The company has a fifty day moving average price of $392.02 and a 200 day moving average price of $412.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $448.19.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm posted $4.53 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. On average, analysts expect that Teledyne Technologies Incorporated will post 19.34 EPS 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.