Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,546 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,601 shares during the period. Truist Financial Corp’s holdings in Teledyne Technologies were worth $8,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP raised its position in Teledyne Technologies by 26.5% during the third quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 27 shares during the last quarter. Great Lakes Advisors LLC raised its position in Teledyne Technologies by 5.5% during the third quarter. Great Lakes Advisors LLC now owns 540 shares of the scientific and technical instruments company’s stock worth $221,000 after acquiring an additional 28 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Teledyne Technologies by 0.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 3,669 shares of the scientific and technical instruments company’s stock worth $1,499,000 after acquiring an additional 32 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Teledyne Technologies by 3.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,089 shares of the scientific and technical instruments company’s stock worth $445,000 after acquiring an additional 32 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its position in Teledyne Technologies by 2.4% during the third quarter. Wealthfront Advisers LLC now owns 1,565 shares of the scientific and technical instruments company’s stock worth $639,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $385.64 on Friday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The firm has a 50 day moving average price of $412.66 and a 200 day moving average price of $413.68. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.64 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 (NYSE:TDY) last released its earnings results 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). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm posted $4.53 earnings per share. Teledyne Technologies’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the business’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 transaction of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Teledyne Technologies Company 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.