Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,191 shares of the scientific and technical instruments company's stock after selling 926 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Teledyne Technologies worth $66,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TDY. Vanguard Group Inc. boosted its holdings in shares of Teledyne Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company's stock valued at $2,604,922,000 after buying an additional 46,479 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Teledyne Technologies by 0.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after acquiring an additional 13,607 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Teledyne Technologies by 1.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,316,360 shares of the scientific and technical instruments company's stock valued at $610,962,000 after purchasing an additional 20,165 shares during the last quarter. Norges Bank purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at $306,042,000. Finally, Invesco Ltd. increased its stake in Teledyne Technologies by 4.6% in the 4th quarter. Invesco Ltd. now owns 626,522 shares of the scientific and technical instruments company's stock worth $290,788,000 after buying an additional 27,454 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Securities restated a "buy" rating and set a $550.00 price target on shares of Teledyne Technologies in a research note on Thursday, April 24th. Stifel Nicolaus began coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. Bank of America boosted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Needham & Company LLC lowered their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $554.43.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded down $1.70 during mid-day trading on Wednesday, hitting $509.87. 252,952 shares of the company were exchanged, compared to its average volume of 271,306. The business's 50 day simple moving average is $490.24 and its two-hundred day simple moving average is $486.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The company has a market capitalization of $23.89 billion, a P/E ratio of 29.14, a PEG ratio of 2.40 and a beta of 1.04. Teledyne Technologies Incorporated has a 12-month low of $381.03 and a 12-month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned $4.55 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.