Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 82.0% during the 3rd quarter, Holdings Channel reports. The fund owned 7,215 shares of the scientific and technical instruments company’s stock after selling 32,762 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Teledyne Technologies were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC increased its position in Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after acquiring an additional 186,849 shares during the period. Earnest Partners LLC increased its position in Teledyne Technologies by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after acquiring an additional 13,576 shares during the period. Dimensional Fund Advisors LP increased its position in Teledyne Technologies by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock valued at $145,594,000 after acquiring an additional 32,339 shares during the period. Sei Investments Co. increased its position in Teledyne Technologies by 4.4% in the 2nd quarter. Sei Investments Co. now owns 367,770 shares of the scientific and technical instruments company’s stock valued at $142,689,000 after acquiring an additional 15,604 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Teledyne Technologies by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after acquiring an additional 9,732 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is currently owned by corporate insiders.

Teledyne Technologies Price Performance

NYSE TDY opened at $485.68 on Thursday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The stock’s 50-day moving average is $458.07 and its two-hundred day moving average is $423.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The firm has a market cap of $22.63 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 3.31 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

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

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.