Mitsubishi UFJ Trust & Banking Corp Grows Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 63.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,360 shares of the scientific and technical instruments company's stock after acquiring an additional 18,842 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Teledyne Technologies worth $22,445,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Teledyne Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company's stock worth $2,604,922,000 after purchasing an additional 46,479 shares during the period. State Street Corp raised its stake in shares of Teledyne Technologies by 1.9% in 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 acquiring an additional 37,884 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Teledyne Technologies by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock worth $748,167,000 after acquiring an additional 9,368 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company's stock worth $520,335,000 after purchasing an additional 28,224 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Teledyne Technologies by 6.0% in 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 purchasing an additional 64,617 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research firms have recently commented on TDY. Bank of America raised 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. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 target price for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $548.00.

Teledyne Technologies Stock Up 0.2 %

NYSE TDY traded up $1.06 during trading hours on Tuesday, hitting $498.77. 312,612 shares of the company were exchanged, compared to its average volume of 254,831. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a market cap of $23.36 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.14 and a beta of 1.03. The company has a 50 day moving average of $501.88 and a two-hundred day moving average of $476.20. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $1.45 billion. During the same quarter last year, the company earned $5.44 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the firm'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 sale, the chairman now owns 144,553 shares of the company's stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares of the company's stock, valued at approximately $2,522,383.08. The trade was a 53.66 % 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 worth $17,709,721 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

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.