Truist Financial Corp Sells 263 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Truist Financial Corp lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,572 shares of the scientific and technical instruments company’s stock after selling 263 shares during the quarter. Truist Financial Corp’s holdings in Teledyne Technologies were worth $8,156,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its holdings in 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 worth $893,219,000 after buying an additional 37,884 shares in the last quarter. Janus Henderson Group PLC boosted its position in Teledyne Technologies by 0.6% in the third 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 purchasing an additional 9,368 shares during the last quarter. Geode Capital Management LLC boosted its position in Teledyne Technologies by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after purchasing an additional 28,224 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after purchasing an additional 30,157 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Down 1.9 %

Shares of NYSE TDY opened at $491.27 on Friday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The business’s fifty day moving average price is $484.90 and its 200-day moving average price is $460.20. The stock has a market capitalization of $22.89 billion, a PE ratio of 28.51, a P/E/G ratio of 3.14 and a beta of 1.03.

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

Insider Activity

In related news, Chairman Robert Mehrabian sold 5,007 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the sale, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $73,769,732.49. This represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,190 shares of company stock valued at $16,386,864 in the last 90 days. 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.