Pictet Asset Management Holding SA Has $9.68 Million Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Pictet Asset Management Holding SA reduced its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,865 shares of the scientific and technical instruments company’s stock after selling 325 shares during the period. Pictet Asset Management Holding SA’s holdings in Teledyne Technologies were worth $9,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TDY. Norges Bank bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at approximately $306,042,000. Madison Investment Advisors LLC bought a new stake in Teledyne Technologies in the fourth quarter valued at $94,721,000. Raymond James Financial Inc. acquired a new position in Teledyne Technologies during the fourth quarter worth $53,304,000. JPMorgan Chase & Co. raised its stake in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new position in shares of Teledyne Technologies during the fourth quarter valued at $29,348,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY opened at $500.16 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The company’s 50 day simple moving average is $501.65 and its 200-day simple moving average is $476.36. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The stock has a market capitalization of $23.43 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $5.44 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.