Allspring Global Investments Holdings LLC Grows Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Allspring Global Investments Holdings LLC raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,712 shares of the scientific and technical instruments company's stock after acquiring an additional 30,157 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.68% of Teledyne Technologies worth $145,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TDY. International Assets Investment Management LLC raised its holdings in shares of Teledyne Technologies by 44,457.2% during the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company's stock worth $32,372,000 after acquiring an additional 73,799 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Teledyne Technologies by 6.0% during 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 buying an additional 64,617 shares during the period. Jennison Associates LLC purchased a new stake in Teledyne Technologies during the 4th quarter valued at $19,310,000. State Street Corp raised its holdings in Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock valued at $893,219,000 after buying an additional 37,884 shares during the period. Finally, National Bank of Canada FI raised its holdings in Teledyne Technologies by 217.5% during the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company's stock valued at $23,554,000 after buying an additional 36,867 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,007 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the sale, the chairman now owns 144,553 shares of the company's stock, valued at $73,769,732.49. This trade represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael T. Smith sold 2,025 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen increased their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $538.00.

Teledyne Technologies Stock Down 1.9 %

Shares of TDY traded down $9.54 during midday trading on Friday, reaching $489.74. 322,036 shares of the stock were exchanged, compared to its average volume of 259,119. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $482.68 and its two-hundred day moving average is $457.55. The company has a market capitalization of $22.82 billion, a P/E ratio of 28.42, a PEG ratio of 3.19 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 (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $5.44 EPS. The business's revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

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.