Korea Investment CORP Increases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Korea Investment CORP raised its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 28.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,380 shares of the scientific and technical instruments company's stock after buying an additional 7,517 shares during the quarter. Korea Investment CORP owned about 0.07% of Teledyne Technologies worth $15,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in Teledyne Technologies in the third quarter valued at $32,000. Glenmede Trust Co. NA boosted its stake in shares of Teledyne Technologies by 12.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,792 shares of the scientific and technical instruments company's stock valued at $784,000 after purchasing an additional 201 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Teledyne Technologies by 5.5% during the third quarter. Public Sector Pension Investment Board now owns 1,910 shares of the scientific and technical instruments company's stock valued at $836,000 after buying an additional 100 shares during the period. Captrust Financial Advisors raised its stake in Teledyne Technologies by 1.7% in the third quarter. Captrust Financial Advisors now owns 7,633 shares of the scientific and technical instruments company's stock worth $3,341,000 after buying an additional 129 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Teledyne Technologies in the third quarter worth about $486,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

TDY has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price target on the stock. Finally, Bank of America boosted their target price 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $548.00.

Teledyne Technologies Stock Up 0.4 %

TDY stock traded up $1.83 on Wednesday, reaching $500.16. 207,510 shares of the company traded hands, compared to its average volume of 254,643. The firm has a fifty day simple moving average of $501.88 and a 200-day simple moving average of $476.20. The company has a market cap of $23.43 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year 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 issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm 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 company's revenue was up 5.4% on a year-over-year basis. Research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on 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 owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is owned by corporate insiders.

Teledyne Technologies 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.