Shares in aerospace and energy contractor Teledyne Technologies Inc. were down almost 10 percent on Monday after an analyst downgraded shares in the firm.

Jefferies & Co. analyst Howard A. Rubel lowered his rating on the Thousand Oaks-based company because he believed the rise in the company’s stock after its strong second-quarter profit was reported last week brought the stock to its full value.

Teledyne posted a 33 percent hike in net income along with a 19 percent increase in sales, sending shares up more than 20 percent before today.

Rubel also said he thinks the company’s “key end markets and operations remain solid” and thinks “leadership will continue to manage the company effectively.”

Shares in Teledyne were down 9.5 percent to $59.14 in early trading Monday.