Teledyne Technologies Incorporated (NYSE:TDY) Stock Position Trimmed by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,262 shares of the scientific and technical instruments company's stock after selling 1,793 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Teledyne Technologies were worth $3,835,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDY. Stratos Wealth Partners LTD. raised its holdings in shares of Teledyne Technologies by 4.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company's stock valued at $232,000 after buying an additional 21 shares during the period. Ironwood Investment Management LLC grew its position in Teledyne Technologies by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company's stock valued at $1,335,000 after acquiring an additional 22 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company's stock valued at $663,000 after purchasing an additional 24 shares during the period. Raymond James Trust N.A. lifted its position in shares of Teledyne Technologies by 4.8% during the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company's stock worth $241,000 after purchasing an additional 25 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in shares of Teledyne Technologies by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company's stock valued at $2,884,000 after purchasing an additional 25 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently issued reports on TDY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group initiated 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, Bank of America increased their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $548.00.

Teledyne Technologies Stock Up 0.7 %

Shares of TDY stock traded up $3.44 during trading hours on Friday, hitting $502.73. 653,569 shares of the company were exchanged, compared to its average volume of 243,148. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The business's 50-day simple moving average is $496.34 and its two-hundred day simple moving average is $471.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the business posted $5.44 EPS. Teledyne Technologies'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 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 over the last 90 days. Insiders own 2.14% of the company's stock.

About Teledyne Technologies

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.