Fulton Bank N.A. Has $657,000 Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Fulton Bank N.A. grew its position in Teledyne Technologies Incorporated (NYSE:TDY) by 14.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,415 shares of the scientific and technical instruments company’s stock after acquiring an additional 183 shares during the quarter. Fulton Bank N.A.’s holdings in Teledyne Technologies were worth $657,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC boosted its position in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after buying an additional 9,368 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after acquiring an additional 186,849 shares during the last quarter. Geode Capital Management LLC increased its position in Teledyne Technologies by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after acquiring an additional 28,224 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

TDY has been the topic of several analyst reports. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $531.00.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $461.96 on Friday. The firm has a 50 day moving average of $472.29 and a 200-day moving average of $439.42. The company has a market cap of $21.53 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00.

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

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 3,925 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at $84,268,881. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the sale, the insider now owns 2,900 shares of the company’s stock, valued at $1,417,259. This trade represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,525 shares of company stock worth $26,080,464. Corporate insiders own 2.14% of the company’s stock.

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.