Modern Wealth Management LLC Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Modern Wealth Management LLC bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 448 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies during the 3rd quarter worth about $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the third quarter worth approximately $39,000. Millstone Evans Group LLC bought a new position in Teledyne Technologies in the fourth quarter worth approximately $42,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC raised its position in shares of Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 48 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $494.78 on Friday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The company has a market cap of $23.17 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.14 and a beta of 1.03. The firm has a 50-day moving average of $501.03 and a 200-day moving average of $474.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.44 EPS. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Cynthia Y. Belak sold 5,745 shares of the business’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 transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock valued at $17,709,721. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TDY. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Bank of America upped their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Company 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.