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

Mitsubishi UFJ Trust & Banking Corp grew its position in Teledyne Technologies Incorporated (NYSE:TDY) by 63.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned 0.10% of Teledyne Technologies worth $22,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TDY. Pathstone Holdings LLC raised its position in Teledyne Technologies by 2.0% during the third quarter. Pathstone Holdings LLC now owns 3,918 shares of the scientific and technical instruments company’s stock worth $1,715,000 after acquiring an additional 77 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Teledyne Technologies by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after purchasing an additional 25 shares during the last quarter. Cerity Partners LLC lifted its stake in Teledyne Technologies by 30.6% in the 3rd quarter. Cerity Partners LLC now owns 16,383 shares of the scientific and technical instruments company’s stock valued at $7,170,000 after buying an additional 3,838 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Teledyne Technologies by 7.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,833 shares of the scientific and technical instruments company’s stock valued at $3,428,000 after buying an additional 551 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in Teledyne Technologies by 40.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 2,322 shares of the scientific and technical instruments company’s stock worth $1,016,000 after buying an additional 671 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other news, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last ninety days. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TDY shares. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Bank of America raised 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 reissued a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies presently has an average rating of “Buy” and an average price target of $548.00.

Teledyne Technologies Stock Down 0.4 %

Shares of NYSE:TDY opened at $507.00 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 3.14 and a beta of 1.03. The stock’s 50-day moving average price is $500.60 and its two-hundred day moving average price is $474.04. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. 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 company earned $5.44 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, 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.