Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Update

Teledyne Technologies Incorporated (NYSE:TDY) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 313,100 shares, a decrease of 21.2% from the October 15th total of 397,100 shares. Based on an average daily volume of 211,600 shares, the short-interest ratio is currently 1.5 days. Approximately 0.7% of the company’s shares are short sold.

Teledyne Technologies Trading Down 1.3 %

Shares of NYSE:TDY traded down $6.41 on Friday, hitting $470.15. 292,840 shares of the company’s stock were exchanged, compared to its average volume of 253,442. The business’s 50 day simple moving average is $450.27 and its two-hundred day simple moving average is $418.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The stock has a market capitalization of $21.91 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $492.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $5.05 EPS. Analysts anticipate that Teledyne Technologies will post 19.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TDY shares. TD Cowen upped 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. Needham & Company LLC increased their price objective 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. Vertical Research began coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, 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 research note on Friday, November 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and a consensus target price of $517.50.

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This represents a 21.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds have recently made changes to their positions in the company. Tortoise Investment Management LLC raised its stake in shares of 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 worth $29,000 after purchasing an additional 24 shares during the last quarter. Metis Global Partners LLC lifted its stake in Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after acquiring an additional 24 shares during the period. Crumly & Associates Inc. lifted its stake in Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after acquiring an additional 25 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after acquiring an additional 25 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after acquiring an additional 26 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

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.