Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Down 24.4% in September

Teledyne Technologies Incorporated (NYSE:TDY) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 464,200 shares, a drop of 24.4% from the September 15th total of 614,300 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 226,400 shares, the days-to-cover ratio is currently 2.1 days.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded down $3.54 on Tuesday, hitting $450.30. The company’s stock had a trading volume of 303,733 shares, compared to its average volume of 239,128. The company has a fifty day moving average price of $427.77 and a 200-day moving average price of $408.23. The firm has a market cap of $21.34 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.13 and a beta of 1.01. Teledyne Technologies has a one year low of $355.41 and a one year high of $458.15. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.67 EPS. On average, equities analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current year.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after acquiring an additional 186,849 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after buying an additional 87,925 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after buying an additional 77,890 shares during the last quarter. Maren Capital LLC lifted its position in Teledyne Technologies by 37.2% during the 1st quarter. Maren Capital LLC now owns 254,245 shares of the scientific and technical instruments company’s stock worth $109,152,000 after buying an additional 68,940 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Teledyne Technologies by 88.4% during the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock worth $49,565,000 after acquiring an additional 59,942 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TDY shares. Needham & Company LLC lifted their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Vertical Research began coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $450.50.

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.