Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 169.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,816 shares of the scientific and technical instruments company's stock after acquiring an additional 11,838 shares during the quarter. Canada Pension Plan Investment Board's holdings in Teledyne Technologies were worth $8,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies during the third quarter worth $39,000. Millstone Evans Group LLC bought a new stake in Teledyne Technologies during the 4th quarter valued at $42,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the 4th quarter valued at $46,000. Finally, Tortoise Investment Management LLC raised its position in shares of Teledyne Technologies by 63.2% in the 4th 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. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $10.87 during trading hours on Thursday, hitting $459.39. 424,843 shares of the company were exchanged, compared to its average volume of 258,939. The company's 50 day moving average price is $483.69 and its 200-day moving average price is $478.30. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52-week low of $361.46 and a 52-week high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned $4.55 EPS. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Melanie Susan Cibik sold 706 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares in the company, valued at $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TDY shares. TD Securities reaffirmed a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday. Bank of America raised their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, April 16th. Finally, Needham & Company LLC cut their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $542.50.

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.