Royal London Asset Management Ltd. Raises Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Royal London Asset Management Ltd. lifted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,274 shares of the scientific and technical instruments company's stock after purchasing an additional 2,332 shares during the period. Royal London Asset Management Ltd. owned 0.05% of Teledyne Technologies worth $11,266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDY. Brooklyn Investment Group bought a new stake in Teledyne Technologies during the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies in the 3rd quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the fourth quarter worth $46,000. Tortoise Investment Management LLC increased its holdings 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 purchasing an additional 48 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Teledyne Technologies by 43.0% during 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 during the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Down 0.7 %

NYSE:TDY traded down $3.60 during mid-day trading on Wednesday, reaching $508.66. The company's stock had a trading volume of 246,344 shares, compared to its average volume of 267,662. The company has a quick ratio of 1.61, a current ratio of 2.33 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 stock has a fifty day moving average of $499.12 and a 200-day moving average of $473.56. The firm has a market capitalization of $23.82 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

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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, beating the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $5.44 earnings per share. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TDY has been the topic of several analyst reports. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price objective on the stock. Bank of America upped 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $585.00 target price 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 has an average rating of "Buy" and an average price target of $548.00.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company's stock, valued at $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael T. Smith sold 2,100 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $510.50, for a total transaction of $1,072,050.00. Following the transaction, the director now owns 52,835 shares in the company, valued at approximately $26,972,267.50. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 in the last 90 days. Insiders own 2.14% of the company's stock.

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.