Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 37.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,290 shares of the scientific and technical instruments company's stock after purchasing an additional 1,176 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Teledyne Technologies were worth $2,021,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth $39,000. Exchange Traded Concepts LLC lifted its stake in shares of Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company's stock worth $58,000 after purchasing an additional 108 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its position in Teledyne Technologies by 85.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company's stock valued at $107,000 after buying an additional 106 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Robert Mehrabian sold 5,768 shares of the company's stock in a transaction dated 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 owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total value 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. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,190 shares of company stock valued at $16,386,864. Company insiders own 2.14% of the company's stock.

Teledyne Technologies Stock Performance

Shares of TDY stock traded down $9.54 during mid-day trading on Friday, reaching $489.74. The stock had a trading volume of 322,036 shares, compared to its average volume of 251,581. The business's fifty day moving average is $482.68 and its 200-day moving average is $457.55. 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 firm has a market cap of $22.82 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.19 and a beta of 1.03. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50.

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, beating analysts' consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company's revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.44 earnings per share. On average, research analysts forecast that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.