Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 10.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 82,742 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,859 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Teledyne Technologies were worth $38,036,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the third quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies during the 3rd quarter worth $39,000. Millstone Evans Group LLC acquired a new position in Teledyne Technologies in the 4th quarter worth $42,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies in the 4th quarter valued at about $46,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TDY shares. UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America upped their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $548.00.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock worth $17,709,721 over the last quarter. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Trading Down 2.4 %

NYSE:TDY opened at $494.78 on Friday. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $23.17 billion, a PE ratio of 28.72, a P/E/G ratio of 3.14 and a beta of 1.03. The business’s 50 day moving average is $501.03 and its two-hundred day moving average is $474.86.

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

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.