Teledyne Technologies Incorporated (NYSE:TDY) Holdings Raised by Fulton Bank N.A.

Posted by Defense World Staff on Mar 19th, 2023

Fulton Bank N.A. grew its position in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 29.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 848 shares of the scientific and technical instruments company’s stock after acquiring an additional 195 shares during the quarter. Fulton Bank N.A.’s holdings in Teledyne Technologies were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its stake in Teledyne Technologies by 93.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,068 shares of the scientific and technical instruments company’s stock worth $1,923,000 after buying an additional 1,965 shares during the last quarter. American Century Companies Inc. grew its stake in Teledyne Technologies by 4.0% during the 1st quarter. American Century Companies Inc. now owns 1,911 shares of the scientific and technical instruments company’s stock worth $903,000 after buying an additional 74 shares during the last quarter. Private Advisor Group LLC grew its stake in Teledyne Technologies by 40.1% during the 1st quarter. Private Advisor Group LLC now owns 796 shares of the scientific and technical instruments company’s stock worth $376,000 after buying an additional 228 shares during the last quarter. Cibc World Market Inc. grew its stake in Teledyne Technologies by 62.5% during the 1st quarter. Cibc World Market Inc. now owns 1,370 shares of the scientific and technical instruments company’s stock worth $648,000 after buying an additional 527 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Teledyne Technologies by 1,272.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,400 shares of the scientific and technical instruments company’s stock worth $662,000 after buying an additional 1,298 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley upgraded Teledyne Technologies from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $445.00 to $488.00 in a research note on Monday, December 12th. Credit Suisse Group assumed coverage on Teledyne Technologies in a research note on Monday, December 12th. They issued an “outperform” rating and a $503.00 price target for the company. Needham & Company LLC increased their price target on Teledyne Technologies from $472.00 to $498.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. Finally, StockNews.com assumed coverage on Teledyne Technologies in a research note on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $496.33.

Teledyne Technologies Trading Down 1.2 %

Shares of Teledyne Technologies stock opened at $408.26 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 3.18 and a beta of 1.08. The business has a fifty day simple moving average of $424.48 and a 200-day simple moving average of $398.70. Teledyne Technologies Incorporated has a fifty-two week low of $325.00 and a fifty-two week high of $493.97.

Teledyne Technologies (NYSE:TDY – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The scientific and technical instruments company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.40. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Teledyne Technologies had a return on equity of 11.00% and a net margin of 14.45%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 earnings per share. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 19.18 EPS for the current fiscal year.

Insider Activity

In other news, VP Stephen Finis Blackwood sold 3,333 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the sale, the vice president now directly owns 11,773 shares of the company’s stock, valued at $5,109,482. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Stephen Finis Blackwood sold 3,333 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the sale, the vice president now directly owns 11,773 shares of the company’s stock, valued at $5,109,482. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Mehrabian sold 3,400 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $440.17, for a total value of $1,496,578.00. Following the sale, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at $86,296,208.84. The disclosure for this sale can be found here. Insiders sold a total of 24,210 shares of company stock worth $10,428,074 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Teledyne Technologies Profile

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Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.