Pictet Asset Management Holding SA Sells 325 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Pictet Asset Management Holding SA trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 20,865 shares of the scientific and technical instruments company’s stock after selling 325 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Teledyne Technologies were worth $9,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Teledyne Technologies during the fourth quarter worth about $306,042,000. Madison Investment Advisors LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth about $94,721,000. Raymond James Financial Inc. bought a new position in shares of Teledyne Technologies during the 4th quarter valued at about $53,304,000. JPMorgan Chase & Co. grew its position 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 during the period. Finally, Diamond Hill Capital Management Inc. bought a new stake in Teledyne Technologies during the 4th quarter worth approximately $29,348,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other 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 sale, the vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on TDY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Bank of America lifted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Finally, StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average target price of $548.00.

Teledyne Technologies Stock Up 0.4 %

Teledyne Technologies stock opened at $500.16 on Thursday. The company has a fifty day simple moving average of $501.65 and a 200 day simple moving average of $476.36. 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 1-year low of $355.41 and a 1-year high of $522.50. The company has a market cap of $23.43 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The business 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%. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.44 earnings per share. Research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal 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.