PNC Financial Services Group Inc. Trims Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

PNC Financial Services Group Inc. lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,797 shares of the scientific and technical instruments company’s stock after selling 718 shares during the period. PNC Financial Services Group Inc. owned about 0.23% of Teledyne Technologies worth $49,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of Teledyne Technologies by 9.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 553 shares of the scientific and technical instruments company’s stock worth $242,000 after acquiring an additional 48 shares during the period. Van ECK Associates Corp grew its holdings in shares of Teledyne Technologies by 17.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,402 shares of the scientific and technical instruments company’s stock worth $660,000 after acquiring an additional 211 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Teledyne Technologies by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company’s stock worth $24,443,000 after acquiring an additional 915 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Teledyne Technologies by 29.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,754 shares of the scientific and technical instruments company’s stock worth $768,000 after acquiring an additional 398 shares during the period. Finally, WCM Investment Management LLC grew its holdings in shares of Teledyne Technologies by 30.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,595 shares of the scientific and technical instruments company’s stock worth $1,566,000 after acquiring an additional 841 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $538.00.

Insider Transactions at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,596 shares of company stock valued at $18,678,177 in the last ninety days. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Performance

Shares of TDY opened at $483.04 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average price is $490.91 and its 200-day moving average price is $467.68. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The stock has a market cap of $22.62 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $5.44 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.