Nikko Asset Management Americas Inc. Trims Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Nikko Asset Management Americas Inc. lowered its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,321 shares of the scientific and technical instruments company’s stock after selling 557 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Teledyne Technologies were worth $4,002,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. raised its stake in Teledyne Technologies by 5.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 13,071 shares of the scientific and technical instruments company’s stock valued at $5,612,000 after purchasing an additional 654 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Teledyne Technologies by 3.2% during the 1st quarter. Whittier Trust Co. now owns 29,831 shares of the scientific and technical instruments company’s stock worth $12,807,000 after acquiring an additional 928 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Teledyne Technologies by 2.8% in the first quarter. Mutual of America Capital Management LLC now owns 14,923 shares of the scientific and technical instruments company’s stock worth $6,407,000 after acquiring an additional 408 shares in the last quarter. FORA Capital LLC bought a new position in Teledyne Technologies in the first quarter valued at $2,063,000. Finally, Daiwa Securities Group Inc. raised its position in Teledyne Technologies by 6.2% during the first quarter. Daiwa Securities Group Inc. now owns 6,761 shares of the scientific and technical instruments company’s stock valued at $2,903,000 after purchasing an additional 396 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TDY. TD Cowen reduced their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $490.00 to $400.00 in a report on Friday, April 26th. Finally, StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $470.83.

Teledyne Technologies Trading Down 0.3 %

NYSE:TDY traded down $0.99 during midday trading on Tuesday, reaching $381.85. 203,579 shares of the stock traded hands, compared to its average volume of 246,001. The stock has a market capitalization of $18.09 billion, a P/E ratio of 20.65, a PEG ratio of 2.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. The company has a fifty day moving average of $392.02 and a 200 day moving average of $412.24. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data 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 net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the company posted $4.53 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.34 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.