Sumitomo Mitsui Trust Holdings Inc. Purchases 7,006 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,092 shares of the scientific and technical instruments company's stock after acquiring an additional 7,006 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Teledyne Technologies worth $59,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Teledyne Technologies by 0.3% during the third quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company's stock worth $2,222,688,000 after acquiring an additional 13,645 shares during the last quarter. BlackRock Inc. increased its stake in Teledyne Technologies by 1.3% during the first quarter. BlackRock Inc. now owns 3,659,332 shares of the scientific and technical instruments company's stock worth $1,637,039,000 after acquiring an additional 46,007 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Teledyne Technologies by 2.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,717,685 shares of the scientific and technical instruments company's stock worth $1,086,830,000 after acquiring an additional 60,379 shares during the last quarter. State Street Corp increased its stake in Teledyne Technologies by 2.7% during the first quarter. State Street Corp now owns 1,894,981 shares of the scientific and technical instruments company's stock worth $847,739,000 after acquiring an additional 50,307 shares during the last quarter. Finally, Aristotle Capital Management LLC acquired a new stake in shares of Teledyne Technologies in the third quarter valued at about $698,325,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TDY shares. Needham & Company LLC lowered their target price on Teledyne Technologies from $522.00 to $510.00 and set a "buy" rating for the company in a research note on Wednesday, January 24th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, February 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $515.67.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now owns 18,735 shares of the company's stock, valued at approximately $8,110,568.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Michael T. Smith sold 511 shares of the firm's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares of the company's stock, valued at approximately $24,348,052. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the sale, the director now directly owns 18,735 shares in the company, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock valued at $2,890,621 in the last quarter. Insiders own 2.14% of the company's stock.

Teledyne Technologies Stock Up 0.3 %

TDY traded up $1.22 on Friday, reaching $401.36. The company's stock had a trading volume of 185,735 shares, compared to its average volume of 214,445. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Teledyne Technologies Incorporated has a 1 year low of $364.98 and a 1 year high of $448.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. The business's 50 day moving average is $421.33 and its 200 day moving average is $414.99.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 EPS for the quarter, beating analysts' consensus estimates of $5.04 by $0.40. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. Teledyne Technologies's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.94 earnings per share. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 20.56 EPS for the current fiscal year.

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.