Wellington Management Group LLP Purchases 576 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Wellington Management Group LLP raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,301 shares of the scientific and technical instruments company’s stock after purchasing an additional 576 shares during the quarter. Wellington Management Group LLP’s holdings in Teledyne Technologies were worth $3,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TDY. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares during the period. Metis Global Partners LLC grew its position in shares of Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after acquiring an additional 24 shares during the period. Crumly & Associates Inc. increased its stake in shares of Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after purchasing an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after purchasing an additional 25 shares during the period. Finally, Bleakley Financial Group LLC lifted its position 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 valued at $298,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TDY. Needham & Company LLC upped their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and an average target price of $531.00.

Teledyne Technologies Trading Down 1.0 %

Teledyne Technologies stock opened at $471.06 on Wednesday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The firm’s 50 day moving average price is $468.58 and its 200-day moving average price is $430.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The stock has a market cap of $21.95 billion, a P/E ratio of 24.08, a PEG ratio of 3.30 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $5.05 EPS. Teledyne Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the sale, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,025 shares of company stock worth $25,347,399. Corporate insiders own 2.14% of the company’s stock.

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.