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

Meiji Yasuda Asset Management Co Ltd. raised its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 18.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,316 shares of the scientific and technical instruments company’s stock after purchasing an additional 202 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Teledyne Technologies were worth $611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Teledyne Technologies in the third quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies in the 3rd quarter worth about $39,000. Millstone Evans Group LLC bought a new position in shares of Teledyne Technologies during the 4th quarter valued at about $42,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies during the 4th quarter valued at about $46,000. Finally, Tortoise Investment Management LLC lifted its position in Teledyne Technologies by 63.2% in the 4th 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. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the sale, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,571 shares of company stock valued at $17,709,721. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Bank of America lifted their target price 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, Needham & Company LLC restated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $548.00.

Teledyne Technologies Trading Down 0.4 %

Shares of TDY opened at $507.00 on Friday. The stock has a market capitalization of $23.75 billion, a P/E ratio of 29.43, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $500.60 and a two-hundred day simple moving average of $474.04.

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 for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business posted $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current 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.