Cullen Frost Bankers Inc. Sells 271 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Cullen Frost Bankers Inc. lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 46.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 311 shares of the scientific and technical instruments company’s stock after selling 271 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Teledyne Technologies were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDY. Vanguard Group Inc. raised its holdings in Teledyne Technologies by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock worth $2,375,905,000 after purchasing an additional 16,189 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Teledyne Technologies by 3.2% in the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock worth $676,041,000 after purchasing an additional 48,397 shares in the last quarter. King Luther Capital Management Corp raised its holdings in Teledyne Technologies by 1.6% in the fourth quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock worth $273,586,000 after purchasing an additional 9,843 shares in the last quarter. Norges Bank bought a new position in Teledyne Technologies in the fourth quarter worth $243,111,000. Finally, Northern Trust Corp raised its holdings in Teledyne Technologies by 1.9% in the fourth quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company’s stock worth $231,774,000 after purchasing an additional 9,455 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 0.8 %

Teledyne Technologies stock opened at $427.71 on Wednesday. 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 Incorporated has a one year low of $355.41 and a one year high of $448.19. The stock has a market capitalization of $20.01 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02. The business’s fifty day moving average is $409.98 and its 200 day moving average is $406.05.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 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 company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $4.67 earnings per share. Teledyne Technologies’s revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TDY. Needham & Company LLC increased their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Teledyne Technologies has an average rating of “Moderate Buy” and an average price target of $471.17.

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.