Tredje AP fonden Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Tredje AP fonden reduced its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 50.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,669 shares of the scientific and technical instruments company’s stock after selling 3,668 shares during the period. Tredje AP fonden’s holdings in Teledyne Technologies were worth $1,703,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Covea Finance boosted its holdings in shares of Teledyne Technologies by 25.1% in the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after acquiring an additional 4,300 shares in the last quarter. Amundi boosted its holdings in shares of Teledyne Technologies by 11.9% in the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock valued at $57,687,000 after acquiring an additional 13,244 shares in the last quarter. ING Groep NV boosted its holdings in shares of Teledyne Technologies by 144.9% in the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after acquiring an additional 3,522 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Teledyne Technologies by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after acquiring an additional 640 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Up 2.2 %

TDY stock opened at $491.72 on Friday. The company has a market cap of $23.03 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The company’s 50-day moving average price is $493.19 and its 200 day moving average price is $469.25. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.44 earnings per share. On average, research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TDY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $538.00.

Insiders Place Their Bets

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,571 shares of company stock worth $17,709,721. Insiders own 2.14% of the company’s stock.

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.