Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Grandfield & Dodd LLC increased its holdings in Teledyne Technologies by 11.2% during the 4th quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after acquiring an additional 3,111 shares in the last quarter. abrdn plc increased its holdings in Teledyne Technologies by 70.0% during the 4th quarter. abrdn plc now owns 19,570 shares of the scientific and technical instruments company’s stock valued at $8,734,000 after acquiring an additional 8,058 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Teledyne Technologies by 4.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,365 shares of the scientific and technical instruments company’s stock valued at $2,841,000 after acquiring an additional 287 shares in the last quarter. Wealth Alliance increased its holdings in Teledyne Technologies by 5.6% during the 4th quarter. Wealth Alliance now owns 1,695 shares of the scientific and technical instruments company’s stock valued at $756,000 after acquiring an additional 90 shares in the last quarter. Finally, Main Street Research LLC purchased a new position in Teledyne Technologies during the 4th quarter valued at about $201,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Performance

Shares of TDY stock 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 debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. The company has a 50 day moving average price of $418.66 and a 200 day moving average price of $414.90. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly 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 company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company posted $4.53 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Teledyne Technologies Incorporated will post 20.56 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

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

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.