Resona Asset Management Co. Ltd. Makes New $10.15 Million Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,836 shares of the scientific and technical instruments company’s stock, valued at approximately $10,149,000.

A number of other large investors have also recently made changes to their positions in TDY. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the 3rd quarter worth about $39,000. Millstone Evans Group LLC bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at about $42,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies in the fourth quarter worth $46,000. Tortoise Investment Management LLC increased its stake in shares of Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 48 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Teledyne Technologies by 43.0% in the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 52 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TDY. Needham & Company LLC reissued a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $548.00.

Teledyne Technologies Stock Performance

TDY opened at $436.32 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The company has a fifty day moving average of $499.21 and a 200 day moving average of $477.07. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 3.14 and a beta of 1.03.

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

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,100 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $510.50, for a total value of $1,072,050.00. Following the transaction, the director now directly owns 52,835 shares of the company’s stock, valued at $26,972,267.50. This represents a 3.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is currently owned by insiders.

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.