Thrivent Financial for Lutherans Boosts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Thrivent Financial for Lutherans lifted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 122.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,805 shares of the scientific and technical instruments company's stock after buying an additional 7,049 shares during the quarter. Thrivent Financial for Lutherans' holdings in Teledyne Technologies were worth $5,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Madison Investment Advisors LLC purchased a new stake in Teledyne Technologies during the 4th quarter worth approximately $94,721,000. Raymond James Financial Inc. purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth approximately $53,304,000. JPMorgan Chase & Co. raised its stake in Teledyne Technologies by 6.0% in 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 purchasing an additional 64,617 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Teledyne Technologies in the 4th quarter valued at $29,348,000. Finally, Proficio Capital Partners LLC acquired a new stake in Teledyne Technologies during the 4th quarter worth $29,081,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insiders Place Their Bets

In related news, EVP Melanie Susan Cibik sold 706 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock valued at $17,709,721 over the last quarter. 1.50% of the stock is owned by insiders.

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Teledyne Technologies Trading Down 0.4 %

Shares of TDY traded down $2.00 during mid-day trading on Thursday, reaching $507.00. The stock had a trading volume of 251,210 shares, compared to its average volume of 243,669. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The business's fifty day moving average is $499.91 and its 200 day moving average is $473.81. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.44 EPS. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on TDY. Needham & Company LLC reiterated a "buy" rating and issued a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America increased their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. Finally, UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $548.00.

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.