Resona Asset Management Co. Ltd. Buys New Shares in Teledyne Technologies Incorporated (NYSE:TDY)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,836 shares of the scientific and technical instruments company's stock, valued at approximately $10,149,000.

Several other institutional investors have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies in the third quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $42,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies in the 4th quarter worth about $46,000. Tortoise Investment Management LLC increased its position in shares of Teledyne Technologies by 63.2% in the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after acquiring an additional 48 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Teledyne Technologies by 43.0% in the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company's stock valued at $80,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Insider Buying and Selling at Teledyne Technologies

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the company's stock in a transaction dated 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 $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

Teledyne Technologies Stock Down 0.5 %

Shares of Teledyne Technologies stock traded down $2.48 during trading on Friday, hitting $456.45. 53,211 shares of the stock traded hands, compared to its average volume of 256,902. The company has a fifty day moving average price of $491.98 and a two-hundred day moving average price of $477.15. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The stock has a market cap of $21.38 billion, a P/E ratio of 26.51, a PEG ratio of 3.14 and a beta of 1.03. 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 announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping 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 company 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 posted $5.44 EPS. Teledyne Technologies's quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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.