Modern Wealth Management LLC Invests $229,000 in Teledyne Technologies Incorporated (NYSE:TDY)

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies in the 3rd quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the third quarter valued at about $39,000. Millstone Evans Group LLC acquired a new position in Teledyne Technologies during the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $46,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Teledyne Technologies by 63.2% during the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 48 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Insider Activity at Teledyne Technologies

In related news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last ninety days. Insiders own 1.50% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $494.78 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The firm has a market cap of $23.17 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm’s fifty day moving average is $501.03 and its 200-day moving average is $474.53.

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 the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.44 EPS. Sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and a consensus price target of $548.00.

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.