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

Truist Financial Corp reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Teledyne Technologies in the 3rd quarter worth about $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the 3rd quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies in the 4th quarter worth about $46,000. Allworth Financial LP increased its stake in Teledyne Technologies by 15.1% in the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after acquiring an additional 27 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Teledyne Technologies by 85.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after acquiring an additional 106 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TDY shares. Needham & Company LLC restated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. Finally, UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Buy” and a consensus target price of $538.00.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $491.27 on Friday. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The stock’s 50-day moving average is $484.90 and its 200 day moving average is $460.20.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.44 EPS. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

About Teledyne Technologies

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.