Teledyne Technologies Incorporated (NYSE:TDY) Stock Position Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,713 shares of the scientific and technical instruments company’s stock after acquiring an additional 573 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Teledyne Technologies were worth $2,103,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Teledyne Technologies by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock valued at $2,222,688,000 after purchasing an additional 13,645 shares in the last quarter. Aristotle Capital Management LLC bought a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $698,325,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Teledyne Technologies by 26.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after purchasing an additional 193,544 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after purchasing an additional 151,659 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Teledyne Technologies by 8.0% during the 3rd quarter. Northern Trust Corp now owns 509,879 shares of the scientific and technical instruments company’s stock valued at $208,326,000 after purchasing an additional 37,720 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies presently has a consensus rating of “Buy” and a consensus price target of $515.67.

Teledyne Technologies Stock Performance

Shares of TDY opened at $362.50 on Thursday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19. The company has a 50-day moving average of $418.66 and a two-hundred day moving average of $414.90. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business earned $4.53 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Teledyne Technologies Incorporated will post 20.56 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 511 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the sale, the director now directly owns 56,492 shares of the company’s stock, valued at $24,348,052. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 over the last three months. 2.14% of the stock is owned by corporate insiders.

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.