Fjarde AP Fonden Fourth Swedish National Pension Fund Has $9.30 Million Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 46.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,039 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Teledyne Technologies were worth $9,301,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Covea Finance boosted its holdings in Teledyne Technologies by 25.1% during the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after purchasing an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $503,338,000 after acquiring an additional 64,617 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Teledyne Technologies by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after acquiring an additional 640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Teledyne Technologies by 37.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,290 shares of the scientific and technical instruments company’s stock valued at $2,021,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Teledyne Technologies by 240.5% in the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after acquiring an additional 25,796 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on TDY shares. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $538.00.

Teledyne Technologies Stock Performance

NYSE TDY opened at $491.27 on Monday. The firm has a 50-day moving average of $485.23 and a 200-day moving average of $461.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock has a market cap of $22.89 billion, a PE ratio of 28.51, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $5.44 EPS. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current 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.