DnB Asset Management AS Buys 74 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

DnB Asset Management AS lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,111 shares of the scientific and technical instruments company’s stock after acquiring an additional 74 shares during the quarter. DnB Asset Management AS’s holdings in Teledyne Technologies were worth $3,765,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Teledyne Technologies during the fourth quarter worth approximately $306,042,000. UniSuper Management Pty Ltd boosted its holdings in shares of Teledyne Technologies by 14.5% during the 4th quarter. UniSuper Management Pty Ltd now owns 5,391 shares of the scientific and technical instruments company’s stock worth $2,502,000 after buying an additional 683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Teledyne Technologies by 10.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 82,742 shares of the scientific and technical instruments company’s stock valued at $38,036,000 after buying an additional 7,859 shares during the last quarter. Korea Investment CORP raised its holdings in Teledyne Technologies by 28.0% in the 4th quarter. Korea Investment CORP now owns 34,380 shares of the scientific and technical instruments company’s stock worth $15,957,000 after acquiring an additional 7,517 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Teledyne Technologies by 63.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,360 shares of the scientific and technical instruments company’s stock worth $22,445,000 after acquiring an additional 18,842 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

TDY has been the topic of a number of recent analyst reports. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Bank of America upped their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $548.00.

Teledyne Technologies Trading Up 0.5 %

Teledyne Technologies stock opened at $497.83 on Tuesday. The business has a 50 day moving average price of $501.52 and a two-hundred day moving average price of $475.70. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its earnings results 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 return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company posted $5.44 earnings per share. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity

In other news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael T. Smith sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $510.50, for a total value of $1,072,050.00. Following the transaction, the director now owns 52,835 shares of the company’s stock, valued at $26,972,267.50. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is currently owned by corporate insiders.

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.