The Manufacturers Life Insurance Company Decreases Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

The Manufacturers Life Insurance Company lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,889 shares of the scientific and technical instruments company's stock after selling 636 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Teledyne Technologies worth $12,944,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Teledyne Technologies in the 4th quarter valued at $306,042,000. Madison Investment Advisors LLC bought a new position in Teledyne Technologies during the fourth quarter valued at about $94,721,000. Raymond James Financial Inc. bought a new position in Teledyne Technologies during the fourth quarter valued at about $53,304,000. FIL Ltd increased its holdings in Teledyne Technologies by 72.8% during the fourth quarter. FIL Ltd now owns 260,187 shares of the scientific and technical instruments company's stock worth $120,761,000 after buying an additional 109,615 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after acquiring an additional 64,617 shares during the period. 91.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 5,007 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $510.33, for a total value of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $73,769,732.49. This represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,413 shares of company stock worth $4,846,536 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. TD Securities reissued a "buy" rating and set a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Bank of America raised their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. StockNews.com lowered Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Needham & Company LLC decreased their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $542.50.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $5.79 during trading hours on Wednesday, reaching $482.02. The company had a trading volume of 205,970 shares, compared to its average volume of 256,188. The firm has a market cap of $22.59 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a one year low of $380.63 and a one year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The business has a fifty day simple moving average of $478.33 and a 200 day simple moving average of $479.81.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned $4.55 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share 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.