Teledyne Technologies Incorporated (NYSE:TDY) VP Sells $2,920,413.30 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the sale, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Teledyne Technologies Stock Performance

Shares of TDY stock 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 stock has a fifty day moving average of $476.25 and a 200 day moving average of $449.79. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $518.85. The company has a quick ratio of 1.35, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the company posted $5.44 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies in the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group purchased a new position in Teledyne Technologies during the third quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth about $46,000. Finally, Quarry LP lifted its position in Teledyne Technologies by 706.3% during the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.