Bank of America Corp DE Raises Stake in Teledyne Technologies Incorporated (TDY)
Bank of America Corp DE grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 244,335 shares of the scientific and technical instruments company’s stock after buying an additional 7,224 shares during the period. Bank of America Corp DE’s holdings in Teledyne Technologies were worth $50,595,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Teledyne Technologies during the third quarter valued at approximately $466,000. SG Americas Securities LLC increased its holdings in Teledyne Technologies by 18.7% during the third quarter. SG Americas Securities LLC now owns 7,091 shares of the scientific and technical instruments company’s stock valued at $1,749,000 after buying an additional 1,115 shares during the period. JPMorgan Chase & Co. increased its holdings in Teledyne Technologies by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 81,014 shares of the scientific and technical instruments company’s stock valued at $19,984,000 after buying an additional 3,370 shares during the period. Commonwealth Bank of Australia purchased a new position in Teledyne Technologies in the third quarter worth $345,000. Finally, Alliancebernstein L.P. grew its holdings in Teledyne Technologies by 5.0% in the third quarter. Alliancebernstein L.P. now owns 21,187 shares of the scientific and technical instruments company’s stock worth $5,226,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 84.74% of the company’s stock.
In other news, Director Paul David Miller sold 10,030 shares of Teledyne Technologies stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $225.00, for a total transaction of $2,256,750.00. Following the completion of the sale, the director now directly owns 21,653 shares in the company, valued at $4,871,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth C. Dahlberg sold 6,106 shares of Teledyne Technologies stock in a transaction on Friday, January 25th. The stock was sold at an average price of $227.16, for a total transaction of $1,387,038.96. Following the sale, the director now owns 12,834 shares of the company’s stock, valued at $2,915,371.44. The disclosure for this sale can be found here. Insiders have sold 41,003 shares of company stock valued at $9,212,822 over the last quarter. Insiders own 3.19% of the company’s stock.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 23rd. The scientific and technical instruments company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.27. Teledyne Technologies had a net margin of 11.50% and a return on equity of 14.97%. The business had revenue of $748.40 million during the quarter, compared to the consensus estimate of $728.04 million. During the same period in the previous year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts predict that Teledyne Technologies Incorporated will post 9 EPS for the current year.
TDY has been the topic of several analyst reports. Zacks Investment Research lowered shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $248.00 price target (up from $240.00) on shares of Teledyne Technologies in a report on Friday, March 15th.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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