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

Cullen Frost Bankers Inc. cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 27.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130 shares of the scientific and technical instruments company’s stock after selling 50 shares during the period. 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 made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Teledyne Technologies by 9.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 553 shares of the scientific and technical instruments company’s stock valued at $242,000 after purchasing an additional 48 shares during the last quarter. Van ECK Associates Corp raised its stake in Teledyne Technologies by 17.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,402 shares of the scientific and technical instruments company’s stock valued at $660,000 after purchasing an additional 211 shares during the last quarter. Principal Financial Group Inc. raised its stake in Teledyne Technologies by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company’s stock valued at $24,443,000 after purchasing an additional 915 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Teledyne Technologies by 29.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,754 shares of the scientific and technical instruments company’s stock valued at $768,000 after purchasing an additional 398 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in Teledyne Technologies by 30.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,595 shares of the scientific and technical instruments company’s stock valued at $1,566,000 after purchasing an additional 841 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,596 shares of company stock valued at $18,678,177. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Down 1.7 %

NYSE TDY opened at $483.04 on Monday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a 50-day moving average of $490.91 and a 200-day moving average of $467.68. 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 company has a market cap of $22.62 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $5.44 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

About Teledyne Technologies

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.