Sumitomo Mitsui DS Asset Management Company Ltd Purchases 640 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,515 shares of the scientific and technical instruments company's stock after acquiring an additional 640 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Teledyne Technologies were worth $3,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies in the third quarter worth about $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies in the third quarter worth about $39,000. Exchange Traded Concepts LLC lifted its holdings in shares of Teledyne Technologies by 432.0% in the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company's stock worth $58,000 after acquiring an additional 108 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Teledyne Technologies by 85.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company's stock worth $107,000 after acquiring an additional 106 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Robert Mehrabian sold 5,007 shares of Teledyne Technologies stock in a transaction on Friday, February 7th. The shares were sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the completion of the sale, the chairman now owns 144,553 shares of the company's stock, valued at $73,769,732.49. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by insiders.

Teledyne Technologies Trading Down 1.4 %

NYSE:TDY traded down $6.86 during trading hours on Thursday, hitting $499.07. 259,140 shares of the company were exchanged, compared to its average volume of 249,153. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The company has a fifty day simple moving average of $482.23 and a 200 day simple moving average of $457.26.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same period 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. Sell-side analysts expect that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on TDY shares. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. TD Cowen increased 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. Finally, Bank of America upgraded Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has a consensus rating of "Buy" and an average price target of $538.00.

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.