WCM Investment Management LLC Boosts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

WCM Investment Management LLC grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 9.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,929 shares of the scientific and technical instruments company’s stock after acquiring an additional 334 shares during the quarter. WCM Investment Management LLC’s holdings in Teledyne Technologies were worth $1,828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies in the third quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies during the third quarter worth approximately $39,000. Exchange Traded Concepts LLC raised its stake in shares of Teledyne Technologies by 432.0% during the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 108 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of Teledyne Technologies by 85.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 106 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TDY. TD Cowen raised their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $538.00.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,007 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total value of $2,555,222.31. Following the completion of the sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Melanie Susan Cibik sold 2,538 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $513.02, for a total value of $1,302,044.76. Following the completion of the sale, the executive vice president now directly owns 32,100 shares of the company’s stock, valued at approximately $16,467,942. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 over the last 90 days. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Trading Down 0.0 %

TDY opened at $511.38 on Tuesday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The stock has a fifty day moving average price of $480.48 and a 200-day moving average price of $455.64. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 3.19 and a beta of 1.03. 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 announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the company posted $5.44 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.59 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.