Teledyne Technologies Incorporated $TDY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 118,987 shares of the scientific and technical instruments company’s stock after selling 5,647 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Teledyne Technologies worth $72,203,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CX Institutional lifted its stake in Teledyne Technologies by 2.8% during the 2nd quarter. CX Institutional now owns 617 shares of the scientific and technical instruments company’s stock valued at $411,000 after acquiring an additional 17 shares during the period. Assetmark Inc. lifted its holdings in Teledyne Technologies by 10.5% in the first quarter. Assetmark Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 18 shares during the period. Parvin Asset Management LLC boosted its position in Teledyne Technologies by 12.5% in the 1st quarter. Parvin Asset Management LLC now owns 180 shares of the scientific and technical instruments company’s stock worth $109,000 after purchasing an additional 20 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Teledyne Technologies by 1.0% during the third quarter. GAMMA Investing LLC now owns 2,098 shares of the scientific and technical instruments company’s stock worth $1,273,000 after buying an additional 21 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Teledyne Technologies by 9.1% during the 2nd quarter. Anchor Investment Management LLC now owns 276 shares of the scientific and technical instruments company’s stock worth $184,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $663.44 on Wednesday. Teledyne Technologies Incorporated has a 12-month low of $483.02 and a 12-month high of $697.67. The stock has a market cap of $30.54 billion, a P/E ratio of 30.32, a PEG ratio of 2.43 and a beta of 0.89. The company has a 50-day moving average price of $619.49 and a 200 day moving average price of $634.10. The company has a current ratio of 2.31, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.55. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $5.57 earnings per share. Teledyne Technologies’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Teledyne Technologies Incorporated will post 25.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TDY. Needham & Company LLC lifted their price target on Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings upgraded shares of Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Zacks Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Barclays increased their price objective on Teledyne Technologies from $640.00 to $646.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Finally, Stifel Nicolaus raised their price objective on Teledyne Technologies from $775.00 to $795.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $731.83.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon Lorne sold 6,449 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the sale, the director directly owned 55,783 shares of the company’s stock, valued at approximately $37,951,406.22. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.36% of the stock is currently owned by corporate insiders.

Teledyne Technologies Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.