Heartland Advisors Inc. Has $30.89 Million Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Heartland Advisors Inc. lowered its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,562 shares of the scientific and technical instruments company's stock after selling 2,709 shares during the quarter. Teledyne Technologies accounts for approximately 1.7% of Heartland Advisors Inc.'s investment portfolio, making the stock its 3rd largest position. Heartland Advisors Inc. owned approximately 0.14% of Teledyne Technologies worth $30,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TDY. DnB Asset Management AS grew its stake in shares of Teledyne Technologies by 0.9% in the fourth quarter. DnB Asset Management AS now owns 8,111 shares of the scientific and technical instruments company's stock worth $3,765,000 after purchasing an additional 74 shares during the last quarter. Norges Bank bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $306,042,000. UniSuper Management Pty Ltd increased its stake in shares of Teledyne Technologies by 14.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 5,391 shares of the scientific and technical instruments company's stock valued at $2,502,000 after buying an additional 683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Teledyne Technologies by 10.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 82,742 shares of the scientific and technical instruments company's stock worth $38,036,000 after acquiring an additional 7,859 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Teledyne Technologies by 28.0% in the fourth 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. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, Director Michael T. Smith sold 2,100 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $510.50, for a total transaction of $1,072,050.00. Following the transaction, the director now directly owns 52,835 shares of the company's stock, valued at $26,972,267.50. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 over the last three months. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TDY. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America boosted their target price 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $548.00.

Teledyne Technologies Stock Up 0.1 %

Shares of TDY traded up $0.38 during trading hours on Tuesday, hitting $498.09. The stock had a trading volume of 73,942 shares, compared to its average volume of 253,482. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The firm has a market capitalization of $23.33 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm has a 50 day simple moving average of $501.52 and a 200-day simple moving average of $475.70. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced 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 return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the firm posted $5.44 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal 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.