Federated Hermes Inc. Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Federated Hermes Inc. trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229 shares of the scientific and technical instruments company’s stock after selling 34 shares during the period. Federated Hermes Inc.’s holdings in Teledyne Technologies were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TDY. Barclays PLC increased its stake in Teledyne Technologies by 18.0% in the third quarter. Barclays PLC now owns 99,504 shares of the scientific and technical instruments company’s stock valued at $40,656,000 after purchasing an additional 15,169 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Teledyne Technologies in the fourth quarter worth approximately $2,325,000. Metis Global Partners LLC grew its holdings in Teledyne Technologies by 21.5% in the third quarter. Metis Global Partners LLC now owns 1,715 shares of the scientific and technical instruments company’s stock valued at $701,000 after purchasing an additional 303 shares during the period. WCM Investment Management LLC purchased a new position in Teledyne Technologies during the fourth quarter worth approximately $934,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Teledyne Technologies by 5.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 134,092 shares of the scientific and technical instruments company’s stock valued at $59,844,000 after acquiring an additional 7,006 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the company’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 of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Teledyne Technologies Stock Performance

TDY stock opened at $390.44 on Tuesday. The stock’s fifty day moving average is $410.99 and its two-hundred day moving average is $413.62. The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) 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 business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $4.53 earnings per share. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.34 EPS for the current 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.