Wellington Management Group LLP Grows Position in Teledyne Technologies Incorporated (NYSE:TDY)

Wellington Management Group LLP lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 60.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,565 shares of the scientific and technical instruments company’s stock after buying an additional 2,088 shares during the quarter. Wellington Management Group LLP’s holdings in Teledyne Technologies were worth $2,274,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TDY. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Teledyne Technologies by 93.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,068 shares of the scientific and technical instruments company’s stock worth $1,923,000 after buying an additional 1,965 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Teledyne Technologies by 4.0% in the first quarter. American Century Companies Inc. now owns 1,911 shares of the scientific and technical instruments company’s stock worth $903,000 after buying an additional 74 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Teledyne Technologies by 40.1% in the first quarter. Private Advisor Group LLC now owns 796 shares of the scientific and technical instruments company’s stock worth $376,000 after buying an additional 228 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Teledyne Technologies by 62.5% in the first quarter. Cibc World Market Inc. now owns 1,370 shares of the scientific and technical instruments company’s stock worth $648,000 after buying an additional 527 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Teledyne Technologies by 1,272.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,400 shares of the scientific and technical instruments company’s stock worth $662,000 after buying an additional 1,298 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $429.32 on Thursday. The company has a market cap of $20.34 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.72 and a beta of 1.02. The firm’s fifty day moving average is $426.88 and its 200 day moving average is $415.16. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. Teledyne Technologies Incorporated has a 52-week low of $364.98 and a 52-week high of $448.71.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.40. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $4.94 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 20.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael T. Smith sold 511 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now directly owns 56,492 shares in the company, valued at $24,348,052. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TDY has been the topic of a number of recent research reports. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $515.67.

Teledyne Technologies 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.