Sumitomo Mitsui Trust Group Inc. Has $62.25 Million Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,117 shares of the scientific and technical instruments company's stock after purchasing an additional 2,152 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Teledyne Technologies worth $62,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TDY. Wolff Wiese Magana LLC purchased a new stake in shares of Teledyne Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new stake in Teledyne Technologies in the third quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies in the third quarter valued at approximately $39,000. Exchange Traded Concepts LLC lifted its stake in 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 valued at $58,000 after buying an additional 108 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in Teledyne Technologies by 85.5% in 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 purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 5,768 shares of the business's stock in a transaction 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 completion of the sale, the chairman now directly owns 144,553 shares of the company's stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael T. Smith sold 2,025 shares of the company's 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 transaction, the director now owns 54,935 shares of the company's stock, valued at approximately $26,272,663.75. This represents a 3.56 % 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 worth $16,386,864. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Price Performance

Shares of TDY traded down $6.86 during mid-day trading on Thursday, hitting $499.07. The company's stock had a trading volume of 259,140 shares, compared to its average volume of 249,153. 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 1-year low of $355.41 and a 1-year high of $522.50. The firm has a market capitalization of $23.26 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.19 and a beta of 1.03. The firm has a 50-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 released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating 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 quarter last year, the company earned $5.44 earnings per share. Teledyne Technologies's quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

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.