Nomura Asset Management Co. Ltd. Boosts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Nomura Asset Management Co. Ltd. boosted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 7.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,313 shares of the scientific and technical instruments company’s stock after buying an additional 957 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Teledyne Technologies were worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Tortoise Investment Management LLC increased its holdings in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after purchasing an additional 24 shares during the period. Crumly & Associates Inc. lifted its stake in shares of Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after buying an additional 25 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Teledyne Technologies by 4.8% in 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 buying an additional 25 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in Teledyne Technologies by 4.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after buying an additional 26 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of TDY opened at $478.96 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $467.11 and a 200-day moving average price of $429.19. The company has a market cap of $22.32 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.05 EPS. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,025 shares of company stock valued at $25,347,399 over the last quarter. 2.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday. They set a “buy” rating and a $585.00 target price on the stock. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC raised their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies has an average rating of “Buy” and a consensus target price of $531.00.

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.