Jason Vanwees Sells 3,700 Shares of Teledyne Technologies Incorporated (NYSE:TDY) Stock

Teledyne Technologies Incorporated (NYSE:TDY) Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now directly owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $497.38 on Thursday. The stock’s 50-day moving average is $490.40 and its two-hundred day moving average is $466.36. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. 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 (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm earned $5.44 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analyst Weigh In

TDY has been the topic of several recent analyst reports. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $538.00.

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth about $28,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies during the third quarter worth about $32,000. Hurley Capital LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth about $33,000. Ancora Advisors LLC lifted its position in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies in the third quarter valued at about $39,000. Institutional investors and hedge funds own 91.58% 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.