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 firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $510.50, for a total value of $1,072,050.00. Following the completion of the sale, the director now directly owns 52,835 shares of the company’s stock, valued at $26,972,267.50. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Teledyne Technologies Stock Up 2.0 %

TDY opened at $519.03 on Friday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $519.38. The firm has a market capitalization of $24.19 billion, a P/E ratio of 30.12, a PEG ratio of 3.24 and a beta of 1.01. The company’s 50-day moving average is $476.25 and its 200 day moving average is $449.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.35.

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. The firm 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 company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.44 EPS. Research analysts expect that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TDY. Covea Finance boosted its holdings in shares of Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after buying an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Teledyne Technologies by 6.0% in the third 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 last quarter. Verition Fund Management LLC grew its position in shares of Teledyne Technologies by 240.5% during 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 period. West Oak Capital LLC raised its holdings in shares of Teledyne Technologies by 4,721.8% in the 4th 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 stake in Teledyne Technologies by 217.5% in the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after purchasing an additional 36,867 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TDY shares. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. TD Cowen upped their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and a consensus target price of $531.00.

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.