Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,362 shares of the scientific and technical instruments company’s stock after purchasing an additional 608 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Teledyne Technologies were worth $4,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth about $53,304,000. JPMorgan Chase & Co. increased its stake in shares of Teledyne Technologies by 6.0% in the 3rd 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 purchasing an additional 64,617 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Teledyne Technologies in the 4th quarter worth about $29,081,000. Jennison Associates LLC purchased a new position in Teledyne Technologies during the fourth quarter worth approximately $19,310,000. Finally, State Street Corp grew its holdings in Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after purchasing an additional 37,884 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set 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 objective 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.com, Teledyne Technologies has a consensus rating of “Buy” and an average target price of $538.00.

Teledyne Technologies Stock Performance

NYSE TDY opened at $491.72 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The stock’s 50 day simple moving average is $493.19 and its 200-day simple moving average is $469.25. The company has a market cap of $23.03 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $5.44 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now directly owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72 % 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 worth $17,709,721. 2.14% of the stock is 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.