First National Trust Co Sells 403 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

First National Trust Co decreased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,551 shares of the scientific and technical instruments company’s stock after selling 403 shares during the quarter. First National Trust Co’s holdings in Teledyne Technologies were worth $679,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TDY. Wolff Wiese Magana LLC purchased a new stake in Teledyne Technologies in the third quarter worth about $27,000. American National Bank purchased a new position in shares of Teledyne Technologies in the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies in the 2nd quarter worth about $28,000. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 48.0% during 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 purchasing an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC lifted its stake in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 0.1 %

Shares of TDY stock opened at $487.88 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.39 and a beta of 1.01. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The firm has a fifty day moving average price of $445.88 and a 200-day moving average price of $416.21.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.05 earnings per share. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TDY shares. Vertical Research started coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen increased their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC lifted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $517.50.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.88% of the company’s stock.

Teledyne Technologies 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.