Loomis Sayles & Co. L P Cuts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Loomis Sayles & Co. L P decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 82.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 24 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company's stock valued at $663,000 after purchasing an additional 24 shares during the period. Crumly & Associates Inc. grew its holdings in shares of Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company's stock worth $296,000 after purchasing an additional 25 shares during the last quarter. Raymond James Trust N.A. increased its stake in Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company's stock worth $241,000 after buying an additional 25 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company's stock valued at $298,000 after buying an additional 26 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

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

Teledyne Technologies Stock Up 1.4 %

TDY traded up $6.65 during trading on Thursday, hitting $485.68. The stock had a trading volume of 201,541 shares, compared to its average volume of 242,628. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The stock has a 50 day simple moving average of $458.07 and a two-hundred day simple moving average of $423.61. 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 market capitalization of $22.63 billion, a PE ratio of 24.55, a PEG ratio of 3.31 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $5.05 EPS. The firm's revenue was up 2.9% on a year-over-year basis. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the transaction, the chairman now directly owns 171,802 shares in the company, valued at $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.88% of the stock is owned by insiders.

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.