T. Rowe Price Investment Management Inc. Has $609.43 Million Stake in Teledyne Technologies Incorporated (NYSE:TDY)

T. Rowe Price Investment Management Inc. cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,313,061 shares of the scientific and technical instruments company's stock after selling 209,673 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.82% of Teledyne Technologies worth $609,432,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MGO One Seven LLC grew its holdings in Teledyne Technologies by 7.4% during the 4th quarter. MGO One Seven LLC now owns 827 shares of the scientific and technical instruments company's stock worth $384,000 after acquiring an additional 57 shares during the period. Pinebridge Investments L.P. boosted its position in shares of Teledyne Technologies by 61.9% during the 4th quarter. Pinebridge Investments L.P. now owns 1,109 shares of the scientific and technical instruments company's stock valued at $515,000 after purchasing an additional 424 shares in the last quarter. Dark Forest Capital Management LP grew its stake in Teledyne Technologies by 226.6% during the fourth quarter. Dark Forest Capital Management LP now owns 1,682 shares of the scientific and technical instruments company's stock worth $781,000 after purchasing an additional 1,167 shares during the period. Quantessence Capital LLC bought a new stake in Teledyne Technologies in the fourth quarter worth approximately $409,000. Finally, Hsbc Holdings PLC lifted its stake in Teledyne Technologies by 54.1% in the fourth quarter. Hsbc Holdings PLC now owns 180,123 shares of the scientific and technical instruments company's stock valued at $83,544,000 after buying an additional 63,256 shares during the period. Institutional investors own 91.58% of the company's stock.

Insider Transactions at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the firm's stock in a transaction dated 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 transaction, the vice president now directly owns 4,962 shares of the company's stock, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company's stock, valued at $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock valued at $17,709,721 over the last three months. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TDY. 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. Bank of America increased their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Finally, StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $548.00.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $460.67 on Wednesday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The stock's 50 day moving average is $484.49 and its 200-day moving average is $478.50. 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 capitalization of $21.58 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.44 earnings per share. Sell-side analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.