Massachusetts Financial Services Co. MA Increases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Massachusetts Financial Services Co. MA raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,649 shares of the scientific and technical instruments company's stock after acquiring an additional 7,093 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.07% of Teledyne Technologies worth $14,689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TDY. Norges Bank purchased a new position in Teledyne Technologies in the fourth quarter worth $306,042,000. Madison Investment Advisors LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $94,721,000. Raymond James Financial Inc. purchased a new position in Teledyne Technologies during the 4th quarter worth $53,304,000. JPMorgan Chase & Co. increased its position 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Teledyne Technologies in the fourth quarter valued at about $29,348,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Performance

NYSE TDY traded up $5.70 during trading hours on Friday, reaching $464.63. The stock had a trading volume of 247,216 shares, compared to its average volume of 257,935. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The stock has a fifty day moving average of $490.99 and a 200 day moving average of $477.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock has a market cap of $21.76 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $5.44 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares of the company's stock, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock valued at $17,709,721. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

TDY has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. StockNews.com lowered shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Bank of America raised their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Teledyne Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $548.00.

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.