Cullen Frost Bankers Inc. Decreases Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Cullen Frost Bankers Inc. lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 27.8% in the fourth quarter, Holdings Channel reports. The fund owned 130 shares of the scientific and technical instruments company’s stock after selling 50 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Teledyne Technologies were worth $60,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter valued at approximately $29,081,000. Jennison Associates LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter valued at approximately $19,310,000. State Street Corp boosted its stake in shares of Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after buying an additional 37,884 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Teledyne Technologies by 217.5% during the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after buying an additional 36,867 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction 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 sale, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction 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 sale, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,596 shares of company stock worth $18,678,177 over the last ninety days. 2.14% of the stock is owned by insiders.

Teledyne Technologies Stock Performance

Shares of TDY opened at $483.04 on Monday. The business’s fifty day moving average price is $490.91 and its 200 day moving average price is $467.68. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The stock has a market capitalization of $22.62 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

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

Analyst Ratings Changes

Several equities analysts have recently commented on TDY shares. Needham & Company LLC reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $538.00.

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.