Mitsubishi UFJ Trust & Banking Corp Raises Position in Teledyne Technologies Incorporated (NYSE:TDY)

Mitsubishi UFJ Trust & Banking Corp increased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 63.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,360 shares of the scientific and technical instruments company’s stock after buying an additional 18,842 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Teledyne Technologies were worth $22,445,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock valued at $2,604,922,000 after acquiring an additional 46,479 shares in the last quarter. State Street Corp boosted its stake in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after purchasing an additional 37,884 shares during the period. Janus Henderson Group PLC grew its holdings in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after purchasing an additional 9,368 shares in the last quarter. Geode Capital Management LLC increased its stake in Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after buying an additional 28,224 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after buying an additional 64,617 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction on 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 approximately $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TDY. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $548.00.

Teledyne Technologies Stock Performance

Shares of TDY opened at $507.00 on Friday. The stock has a market capitalization of $23.75 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The business’s fifty day moving average price is $500.60 and its 200 day moving average price is $474.04. 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 Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its quarterly 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $5.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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.