Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Teledyne Technologies Incorporated (NYSE:TDY) by 0.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 131,965 shares of the scientific and technical instruments company’s stock after purchasing an additional 624 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Teledyne Technologies were worth $57,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TDY. Wolff Wiese Magana LLC purchased a new stake in Teledyne Technologies in the 3rd quarter valued at $27,000. American National Bank purchased a new position in Teledyne Technologies during the 2nd quarter worth $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies in the second quarter valued at $28,000. Tortoise Investment Management LLC raised its holdings in shares of Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC boosted its stake in shares of Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.14% of the stock is currently owned by insiders.

Teledyne Technologies Trading Down 2.1 %

NYSE:TDY opened at $476.56 on Friday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock has a fifty day moving average price of $448.38 and a two-hundred day moving average price of $417.49. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.39 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $5.05 earnings per share. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Vertical Research assumed coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. TD Cowen lifted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Company 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.