Chevy Chase Trust Holdings LLC Has $10.99 Million Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Chevy Chase Trust Holdings LLC trimmed its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,106 shares of the scientific and technical instruments company’s stock after selling 931 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Teledyne Technologies were worth $10,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies during the 3rd quarter valued at about $27,000. American National Bank bought a new position in Teledyne Technologies during the 2nd quarter valued at about $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies during the 2nd quarter valued at about $28,000. Tortoise Investment Management LLC lifted its holdings in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 24 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Teledyne Technologies during the 3rd quarter valued at about $32,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TDY has been the subject of several analyst reports. TD Cowen lifted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Stock Up 0.1 %

Shares of NYSE:TDY opened at $478.89 on Thursday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The company has a 50 day moving average of $462.84 and a 200-day moving average of $426.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.33 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $5.05 EPS. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the transaction, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.88% of the stock is owned by corporate 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.