Wells Fargo & Company MN Sells 12,762 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Wells Fargo & Company MN decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,551 shares of the scientific and technical instruments company’s stock after selling 12,762 shares during the period. Wells Fargo & Company MN owned 0.46% of Teledyne Technologies worth $97,537,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Teledyne Technologies by 0.3% in the third quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock worth $2,222,688,000 after acquiring an additional 13,645 shares during the period. Aristotle Capital Management LLC purchased a new position in shares of Teledyne Technologies in the third quarter worth about $698,325,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Teledyne Technologies by 26.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock worth $379,977,000 after purchasing an additional 193,544 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Teledyne Technologies by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock worth $376,965,000 after purchasing an additional 151,659 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Teledyne Technologies in the fourth quarter worth about $243,111,000. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

TDY has been the subject of several recent research reports. Needham & Company LLC reduced their target price on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Bank of America downgraded shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a research note on Friday, April 26th. TD Cowen reduced their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $470.83.

Teledyne Technologies Trading Down 2.1 %

Shares of Teledyne Technologies stock opened at $400.81 on Friday. The firm has a market cap of $18.99 billion, a PE ratio of 21.68, a PEG ratio of 2.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a 50 day simple moving average of $404.48 and a two-hundred day simple moving average of $415.18.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.53 earnings per share. Analysts expect that Teledyne Technologies Incorporated will post 19.36 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.14% of the company’s stock.

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.