Chevy Chase Trust Holdings LLC Sells 245 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Chevy Chase Trust Holdings LLC reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,037 shares of the scientific and technical instruments company’s stock after selling 245 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Teledyne Technologies worth $10,102,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TDY. International Assets Investment Management LLC increased its position in Teledyne Technologies by 37,167.5% during the 4th quarter. International Assets Investment Management LLC now owns 72,299 shares of the scientific and technical instruments company’s stock valued at $32,266,000 after purchasing an additional 72,105 shares during the period. Cerity Partners LLC bought a new position in Teledyne Technologies in the fourth quarter worth about $834,000. Tennessee Valley Asset Management Partners purchased a new stake in Teledyne Technologies in the fourth quarter worth about $90,000. abrdn plc lifted its holdings in Teledyne Technologies by 70.0% in the fourth quarter. abrdn plc now owns 19,570 shares of the scientific and technical instruments company’s stock worth $8,734,000 after buying an additional 8,058 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Teledyne Technologies by 13.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,713 shares of the scientific and technical instruments company’s stock valued at $2,103,000 after acquiring an additional 573 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TDY shares. TD Cowen lowered their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Bank of America downgraded shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $471.17.

Teledyne Technologies Stock Up 1.2 %

Teledyne Technologies stock traded up $4.83 during trading hours on Wednesday, hitting $420.28. The stock had a trading volume of 99,565 shares, compared to its average volume of 247,436. The stock’s 50-day moving average price is $399.66 and its 200-day moving average price is $406.54. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $19.66 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 2.93 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.67 EPS. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.4 EPS for the current fiscal 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.