JPMorgan Chase & Co. Has $477.96 Million Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

JPMorgan Chase & Co. decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,029,786 shares of the scientific and technical instruments company’s stock after selling 120,279 shares during the quarter. JPMorgan Chase & Co.’s holdings in Teledyne Technologies were worth $477,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TDY. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Teledyne Technologies by 10.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 82,742 shares of the scientific and technical instruments company’s stock worth $38,036,000 after purchasing an additional 7,859 shares in the last quarter. Korea Investment CORP grew its stake in shares of Teledyne Technologies by 28.0% during the fourth quarter. Korea Investment CORP now owns 34,380 shares of the scientific and technical instruments company’s stock worth $15,957,000 after buying an additional 7,517 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Teledyne Technologies by 63.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,360 shares of the scientific and technical instruments company’s stock worth $22,445,000 after buying an additional 18,842 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Teledyne Technologies by 18.1% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,316 shares of the scientific and technical instruments company’s stock valued at $611,000 after acquiring an additional 202 shares during the last quarter. Finally, PKS Advisory Services LLC acquired a new stake in shares of Teledyne Technologies during the 4th quarter valued at $507,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is currently owned by insiders.

Teledyne Technologies Trading Down 2.4 %

NYSE TDY opened at $494.78 on Friday. The firm has a market capitalization of $23.17 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The business’s 50-day moving average price is $501.03 and its two-hundred day moving average price is $474.86. 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 Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations 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 was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.44 earnings per share. On average, analysts expect 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.