PNC Financial Services Group Inc. Sells 718 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

PNC Financial Services Group Inc. trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 106,797 shares of the scientific and technical instruments company’s stock after selling 718 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Teledyne Technologies were worth $49,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies during the 3rd quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies during the 3rd quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new position in shares of Teledyne Technologies during the 4th quarter valued at $46,000. Private Trust Co. NA lifted its holdings in shares of Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 52 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Teledyne Technologies by 31.6% in the 4th quarter. Jones Financial Companies Lllp now owns 200 shares of the scientific and technical instruments company’s stock worth $93,000 after purchasing an additional 48 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at $13,794,018.84. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,596 shares of company stock worth $18,678,177. Corporate insiders own 2.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Trading Down 1.7 %

Shares of TDY stock opened at $483.04 on Monday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The firm has a market capitalization of $22.62 billion, a PE ratio of 28.03, a PEG ratio of 3.14 and a beta of 1.03. The stock has a fifty day simple moving average of $490.91 and a two-hundred day simple moving average of $467.68.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business posted $5.44 EPS. Teledyne Technologies’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS 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.