Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith Sells 2,100 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith sold 2,100 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $510.50, for a total transaction of $1,072,050.00. Following the completion of the transaction, the director now directly owns 52,835 shares in the company, valued at $26,972,267.50. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Teledyne Technologies Price Performance

NYSE:TDY opened at $508.81 on Thursday. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 3.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.35. The business has a 50 day simple moving average of $476.25 and a 200-day simple moving average of $449.79. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $518.85.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.44 earnings per share. Equities analysts forecast that Teledyne Technologies Incorporated will post 21.3 EPS for the current year.

Analyst Upgrades and Downgrades

TDY has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen boosted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $531.00.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDY. Covea Finance grew its stake in shares of Teledyne Technologies by 25.1% during the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after buying an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares during the period. Verition Fund Management LLC grew its position in Teledyne Technologies by 240.5% in the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after acquiring an additional 25,796 shares during the last quarter. West Oak Capital LLC increased its stake in Teledyne Technologies by 4,721.8% in the fourth quarter. West Oak Capital LLC now owns 11,283 shares of the scientific and technical instruments company’s stock worth $5,237,000 after purchasing an additional 11,049 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Teledyne Technologies by 217.5% during the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after purchasing an additional 36,867 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.