Sumitomo Mitsui Trust Group Inc. Purchases 2,152 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 134,117 shares of the scientific and technical instruments company’s stock after buying an additional 2,152 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Teledyne Technologies were worth $62,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TDY. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in Teledyne Technologies during the third quarter worth approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies in the third quarter valued at approximately $39,000. Exchange Traded Concepts LLC lifted its position in shares of 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. boosted its stake in shares of Teledyne Technologies by 85.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

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

Teledyne Technologies Trading Up 0.3 %

Shares of Teledyne Technologies stock opened at $511.53 on Monday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The stock has a market cap of $23.84 billion, a PE ratio of 29.69, a PEG ratio of 3.19 and a beta of 1.03. The firm has a 50-day moving average of $480.48 and a 200-day moving average of $455.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business posted $5.44 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s 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 completion of the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 in the last 90 days. Company 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.