M&T Bank Corp raised its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,093 shares of the scientific and technical instruments company’s stock after purchasing an additional 454 shares during the quarter. M&T Bank Corp’s holdings in Teledyne Technologies were worth $1,466,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in TDY. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $101,000. Kovack Advisors Inc. acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $213,000. Zions Bancorporation acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at $220,000. CIBC Asset Management Inc acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $220,000. Finally, AMP Capital Investors Ltd acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at $223,000. Institutional investors own 83.22% of the company’s stock.
In other news, Director Simon M. Lorne sold 4,958 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $181.64, for a total value of $900,571.12. Following the transaction, the director now owns 30,297 shares of the company’s stock, valued at approximately $5,503,147.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth C. Dahlberg sold 5,994 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $182.44, for a total transaction of $1,093,545.36. Following the completion of the transaction, the director now directly owns 12,164 shares in the company, valued at approximately $2,219,200.16. The disclosure for this sale can be found here. In the last three months, insiders sold 16,652 shares of company stock worth $3,050,124. Insiders own 3.30% of the company’s stock.
Teledyne Technologies (NYSE:TDY) last issued its earnings results on Thursday, February 1st. The scientific and technical instruments company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.21. Teledyne Technologies had a net margin of 8.73% and a return on equity of 14.06%. The business had revenue of $704.40 million for the quarter, compared to the consensus estimate of $669.25 million. During the same quarter last year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. sell-side analysts forecast that Teledyne Technologies Incorporated will post 7.55 earnings per share for the current year.
A number of equities analysts have weighed in on TDY shares. Needham & Company LLC lifted their price target on shares of Teledyne Technologies from $157.00 to $190.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a report on Tuesday, February 6th. ValuEngine lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Jefferies Group lifted their price target on shares of Teledyne Technologies from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Teledyne Technologies presently has a consensus rating of “Buy” and a consensus price target of $196.00.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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