Loomis Sayles & Co. L P Sells 3,721 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Loomis Sayles & Co. L P lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 51.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,494 shares of the scientific and technical instruments company's stock after selling 3,721 shares during the quarter. Loomis Sayles & Co. L P's holdings in Teledyne Technologies were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. UniSuper Management Pty Ltd grew 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 acquiring an additional 683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 valued at $38,036,000 after purchasing an additional 7,859 shares in the last quarter. Korea Investment CORP grew its stake in 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 purchasing an additional 7,517 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Teledyne Technologies by 63.8% in the fourth 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 purchasing an additional 18,842 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Teledyne Technologies by 18.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,316 shares of the scientific and technical instruments company's stock valued at $611,000 after buying an additional 202 shares during the period. 91.58% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of research firms have recently weighed in on TDY. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price for the company. Finally, Bank of America boosted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $548.00.

Teledyne Technologies Stock Up 0.1 %

Teledyne Technologies stock traded up $0.37 during trading hours on Wednesday, hitting $498.70. The stock had a trading volume of 126,266 shares, compared to its average volume of 254,384. The stock's 50-day moving average price is $501.88 and its 200-day moving average price is $476.20. The stock has a market capitalization of $23.36 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. 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 (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping 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 analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $5.44 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Robert Mehrabian sold 5,768 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares of the company's stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

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.