Norges Bank Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Norges Bank purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 544,737 shares of the scientific and technical instruments company's stock, valued at approximately $243,111,000. Norges Bank owned approximately 1.15% of Teledyne Technologies at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of Teledyne Technologies by 26.5% during the 3rd quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 27 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Teledyne Technologies by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,644 shares of the scientific and technical instruments company's stock worth $1,489,000 after buying an additional 90 shares during the period. Wealthfront Advisers LLC raised its stake in shares of Teledyne Technologies by 2.4% during the 3rd quarter. Wealthfront Advisers LLC now owns 1,565 shares of the scientific and technical instruments company's stock worth $639,000 after buying an additional 36 shares during the period. Orion Portfolio Solutions LLC raised its stake in Teledyne Technologies by 750.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,103 shares of the scientific and technical instruments company's stock valued at $2,085,000 after purchasing an additional 4,503 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Teledyne Technologies by 3.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,089 shares of the scientific and technical instruments company's stock valued at $445,000 after purchasing an additional 32 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Trading Up 0.3 %

Shares of NYSE TDY traded up $1.32 during mid-day trading on Wednesday, reaching $409.22. 148,206 shares of the company's stock were exchanged, compared to its average volume of 239,744. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The company's 50-day moving average is $405.02 and its 200-day moving average is $415.32.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts' consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter last year, the business earned $4.53 earnings per share. The business's revenue was down 2.4% compared to the same quarter last year. Analysts expect that Teledyne Technologies Incorporated will post 19.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TDY. Needham & Company LLC reduced their price objective on Teledyne Technologies from $510.00 to $455.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. StockNews.com downgraded Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, April 25th. TD Cowen dropped their target price on Teledyne Technologies from $475.00 to $450.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Finally, Bank of America cut Teledyne Technologies from a "buy" rating to a "neutral" rating and dropped their target price for the company from $490.00 to $400.00 in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $470.83.

Insider Activity at Teledyne Technologies

In related news, Director Simon M. Lorne sold 2,200 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.88% of the stock is currently owned by company insiders.

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.