Fayez Sarofim & Co. continued to hold its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,903 shares of the scientific and technical instruments company’s stock at the close of the 2nd quarter. Fayez Sarofim & Co. owned 0.28% of Teledyne Technologies worth $12,752,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Thrivent Financial For Lutherans increased its stake in shares of Teledyne Technologies by 7.4% in the second quarter. Thrivent Financial For Lutherans now owns 7,120 shares of the scientific and technical instruments company’s stock valued at $909,000 after purchasing an additional 490 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $6,251,000. Stevens Capital Management LP acquired a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $301,000. Amalgamated Bank increased its stake in shares of Teledyne Technologies by 45.0% in the second quarter. Amalgamated Bank now owns 6,941 shares of the scientific and technical instruments company’s stock valued at $886,000 after purchasing an additional 2,154 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Teledyne Technologies by 33.2% in the second quarter. TIAA CREF Investment Management LLC now owns 123,574 shares of the scientific and technical instruments company’s stock valued at $15,774,000 after purchasing an additional 30,767 shares during the period. Institutional investors own 83.19% of the company’s stock.
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Teledyne Technologies Incorporated (NYSE:TDY) traded up 0.31% on Friday, hitting $155.18. 267,922 shares of the stock traded hands. The stock has a 50-day moving average price of $146.89 and a 200 day moving average price of $134.42. Teledyne Technologies Incorporated has a 12-month low of $101.90 and a 12-month high of $155.71. The stock has a market cap of $5.48 billion, a P/E ratio of 28.61 and a beta of 0.96.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.49. The business had revenue of $671.10 million during the quarter, compared to the consensus estimate of $636.18 million. Teledyne Technologies had a net margin of 8.44% and a return on equity of 13.80%. Teledyne Technologies’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, equities analysts expect that Teledyne Technologies Incorporated will post $5.69 EPS for the current fiscal year.
In related news, Director Roxanne S. Austin sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $148.30, for a total transaction of $593,200.00. Following the completion of the transaction, the director now owns 11,458 shares in the company, valued at $1,699,221.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jason Vanwees sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $147.07, for a total transaction of $882,420.00. Following the transaction, the senior vice president now owns 35,159 shares of the company’s stock, valued at approximately $5,170,834.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,000 shares of company stock valued at $2,060,420. Corporate insiders own 3.30% of the company’s stock.
Several equities research analysts have commented on TDY shares. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Tuesday, May 23rd. BidaskClub upgraded shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Needham & Company LLC upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Wednesday, July 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $140.00 price objective on shares of Teledyne Technologies in a report on Friday, July 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $157.67.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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