BI Asset Management Fondsmaeglerselskab A S Buys Shares of 1,984 Teledyne Technologies Incorporated (NYSE:TDY)

BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,984 shares of the scientific and technical instruments company's stock, valued at approximately $921,000.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Teledyne Technologies in the fourth quarter valued at $306,042,000. Madison Investment Advisors LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $94,721,000. Raymond James Financial Inc. purchased a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $53,304,000. FIL Ltd boosted its position in shares of Teledyne Technologies by 72.8% in the 4th quarter. FIL Ltd now owns 260,187 shares of the scientific and technical instruments company's stock valued at $120,761,000 after purchasing an additional 109,615 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after buying an additional 64,617 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. StockNews.com downgraded shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Monday. Bank of America raised their price objective 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. Finally, TD Securities restated a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $542.50.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY traded down $1.50 during midday trading on Tuesday, hitting $461.54. The stock had a trading volume of 55,132 shares, compared to its average volume of 255,762. The company has a market capitalization of $21.62 billion, a PE ratio of 26.76, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1 year low of $375.94 and a 1 year high of $522.50. The stock has a 50 day moving average price of $481.55 and a two-hundred day moving average price of $479.10. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 EPS. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the sale, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the company's stock in a transaction dated 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 transaction, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,880 shares of company stock valued at $9,212,200 over the last quarter. Company insiders own 1.50% of the company's stock.

About Teledyne Technologies

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.