Chevy Chase Trust Holdings LLC Sells 627 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Chevy Chase Trust Holdings LLC decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,479 shares of the scientific and technical instruments company’s stock after selling 627 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Teledyne Technologies worth $11,361,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after purchasing an additional 37,884 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after purchasing an additional 9,368 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Teledyne Technologies by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after acquiring an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Teledyne Technologies by 10.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after acquiring an additional 30,157 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Down 1.9 %

Shares of Teledyne Technologies stock opened at $489.74 on Monday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The stock’s 50-day simple moving average is $483.00 and its 200 day simple moving average is $458.50. The stock has a market capitalization of $22.82 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the business posted $5.44 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TDY. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen lifted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and a consensus price target of $538.00.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is owned by corporate insiders.

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.