Meiji Yasuda Asset Management Co Ltd. Buys 202 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 18.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,316 shares of the scientific and technical instruments company’s stock after purchasing an additional 202 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Teledyne Technologies were worth $611,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TDY. Brooklyn Investment Group bought a new stake in Teledyne Technologies during the third quarter worth $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the 3rd quarter worth $39,000. Millstone Evans Group LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies during the fourth quarter valued at about $46,000. Finally, Tortoise Investment Management LLC increased its holdings in 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 worth $58,000 after buying an additional 48 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

TDY has been the subject of a number of research reports. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America increased their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $548.00.

Teledyne Technologies Stock Down 0.4 %

Teledyne Technologies stock opened at $507.00 on Friday. The firm has a market capitalization of $23.75 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 3.14 and a beta of 1.03. The firm has a 50 day simple moving average of $500.60 and a 200 day simple moving average of $474.04. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

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

Insider Activity

In related news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now 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. Insiders have sold a total of 34,571 shares of company stock worth $17,709,721 over the last ninety days. Company insiders own 1.50% of the company’s stock.

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.