WCM Investment Management LLC Acquires 841 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

WCM Investment Management LLC increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 30.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,595 shares of the scientific and technical instruments company’s stock after acquiring an additional 841 shares during the quarter. WCM Investment Management LLC’s holdings in Teledyne Technologies were worth $1,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Tortoise Investment Management LLC grew its stake in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 24 shares in the last quarter. Crumly & Associates Inc. raised its position in Teledyne Technologies by 3.8% during the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after purchasing an additional 25 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after purchasing an additional 26 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Teledyne Technologies by 3.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after purchasing an additional 27 shares in the last quarter. Finally, Linscomb Wealth Inc. increased its position in shares of Teledyne Technologies by 4.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 0.00 % 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. 1.88% of the stock is currently owned by insiders.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $487.88 on Wednesday. The company’s fifty day simple moving average is $445.88 and its two-hundred day simple moving average is $416.21. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00. The firm has a market cap of $22.74 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 3.39 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $5.05 earnings per share. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Wall Street Analysts Forecast Growth

TDY has been the subject of several research reports. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen boosted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective on the stock. Finally, Needham & Company LLC boosted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $517.50.

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.