Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by First National Trust Co

First National Trust Co cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 13.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,971 shares of the scientific and technical instruments company’s stock after selling 1,707 shares during the period. First National Trust Co’s holdings in Teledyne Technologies were worth $4,896,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new position in Teledyne Technologies during the fourth quarter worth $28,000. CVA Family Office LLC purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth $31,000. Anchor Investment Management LLC purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth $45,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Teledyne Technologies during the third quarter worth $44,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Teledyne Technologies by 63.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 43 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TDY shares. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $490.00 to $400.00 in a report on Friday, April 26th. Needham & Company LLC reduced their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. TD Cowen lowered their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $470.83.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded down $0.26 during midday trading on Friday, hitting $385.34. 386,120 shares of the company’s stock were exchanged, compared to its average volume of 343,099. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. The firm’s 50 day simple moving average is $411.71 and its 200 day simple moving average is $413.52.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data 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 return on equity of 10.54% and a net margin of 15.81%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business posted $4.53 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts predict that Teledyne Technologies Incorporated will post 19.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The shares were 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 $28,711,789.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.14% of the stock is currently owned by insiders.

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.