Truist Financial Corp Sells 1,434 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Truist Financial Corp trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,971 shares of the scientific and technical instruments company's stock after selling 1,434 shares during the quarter. Truist Financial Corp's holdings in Teledyne Technologies were worth $7,360,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Tortoise Investment Management LLC increased its stake in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of Teledyne Technologies by 3.9% during the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company's stock worth $279,000 after acquiring an additional 27 shares in the last quarter. Linscomb Wealth Inc. grew its stake in shares of Teledyne Technologies by 4.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company's stock worth $270,000 after acquiring an additional 29 shares in the last quarter. MJP Associates Inc. ADV grew its stake in shares of Teledyne Technologies by 5.6% during the 2nd quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company's stock worth $234,000 after acquiring an additional 32 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Teledyne Technologies by 32.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company's stock worth $54,000 after acquiring an additional 34 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded down $4.11 during mid-day trading on Monday, hitting $436.59. 181,778 shares of the company's stock traded hands, compared to its average volume of 239,880. The firm has a 50 day simple moving average of $424.41 and a two-hundred day simple moving average of $407.42. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 3.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $4.67 EPS. The company's quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts expect that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Vertical Research started coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a "buy" rating and a $470.00 price target for the company. Needham & Company LLC increased their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Finally, StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $450.50.

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.