Mengis Capital Management Inc. Sells 77 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Mengis Capital Management Inc. cut its position in Teledyne Technologies Incorporated (NYSE:TDY) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,397 shares of the scientific and technical instruments company’s stock after selling 77 shares during the quarter. Mengis Capital Management Inc.’s holdings in Teledyne Technologies were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in shares of Teledyne Technologies in the third quarter worth $27,000. American National Bank purchased a new position in shares of Teledyne Technologies during the second quarter worth about $28,000. Innealta Capital LLC purchased a new position in shares of Teledyne Technologies during the second quarter worth about $28,000. Tortoise Investment Management LLC raised its stake in Teledyne Technologies by 48.0% in 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 purchasing an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC raised its stake in Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 67 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies 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 transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

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

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $487.88 on Wednesday. The firm has a fifty day simple moving average of $445.88 and a two-hundred day simple moving average of $416.21. 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 Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The company has a market capitalization of $22.74 billion, a PE ratio of 24.67, a P/E/G ratio of 3.39 and a beta of 1.01.

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

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.