Thrivent Financial for Lutherans Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Thrivent Financial for Lutherans decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,756 shares of the scientific and technical instruments company’s stock after selling 77 shares during the period. Thrivent Financial for Lutherans’ holdings in Teledyne Technologies were worth $2,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its holdings in Teledyne Technologies by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the scientific and technical instruments company’s stock valued at $329,000 after buying an additional 133 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of Teledyne Technologies by 14.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 5,951 shares of the scientific and technical instruments company’s stock valued at $2,555,000 after purchasing an additional 744 shares during the period. California State Teachers Retirement System grew its stake in Teledyne Technologies by 1.2% in the first quarter. California State Teachers Retirement System now owns 75,567 shares of the scientific and technical instruments company’s stock worth $32,442,000 after purchasing an additional 919 shares in the last quarter. Tidal Investments LLC increased its holdings in Teledyne Technologies by 131.5% during the 1st quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock worth $1,604,000 after purchasing an additional 2,123 shares during the period. Finally, Swedbank AB bought a new stake in Teledyne Technologies during the 1st quarter valued at $6,953,000. 91.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.88% of the stock is owned by company insiders.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $478.96 on Wednesday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The company has a market capitalization of $22.32 billion, a PE ratio of 24.14, a P/E/G ratio of 3.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The company has a 50-day simple moving average of $455.89 and a two-hundred day simple moving average of $422.57.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company posted $5.05 earnings per share. Teledyne Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TDY shares. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen raised their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $517.50.

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.