Sumitomo Mitsui DS Asset Management Company Ltd Has $3.02 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 10.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,515 shares of the scientific and technical instruments company’s stock after buying an additional 640 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Teledyne Technologies were worth $3,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Covea Finance raised its stake in Teledyne Technologies by 25.1% during the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after buying an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after purchasing an additional 64,617 shares in the last quarter. Verition Fund Management LLC grew its stake in Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after purchasing an additional 25,796 shares during the period. West Oak Capital LLC lifted its stake in Teledyne Technologies by 4,721.8% in the fourth quarter. West Oak Capital LLC now owns 11,283 shares of the scientific and technical instruments company’s stock valued at $5,237,000 after buying an additional 11,049 shares during the period. Finally, National Bank of Canada FI lifted its stake in Teledyne Technologies by 217.5% in the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after buying an additional 36,867 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Shares of TDY opened at $511.53 on Monday. The firm has a market capitalization of $23.84 billion, a P/E ratio of 29.69, a P/E/G ratio of 3.19 and a beta of 1.03. 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 Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The stock has a 50 day moving average price of $480.48 and a two-hundred day moving average price of $455.37.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data 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 business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $5.44 EPS. The business’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the sale, the chief operating officer now directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 5,007 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $510.33, for a total value of $2,555,222.31. Following the completion of the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at $73,769,732.49. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is owned by 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.