Teledyne Technologies Incorporated (NYSE:TDY) COO George C. Bobb III Sells 6,308 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Teledyne Technologies Trading Down 1.1 %

Shares of NYSE TDY opened at $508.50 on Tuesday. The stock has a market cap of $23.70 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 3.24 and a beta of 1.01. The business has a 50 day simple moving average of $473.74 and a 200 day simple moving average of $447.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $518.85.

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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1,451,400 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.44 earnings per share. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors have recently bought and sold shares of TDY. International Assets Investment Management LLC increased its holdings in shares of Teledyne Technologies by 44,457.2% during the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after acquiring an additional 73,799 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the period. Millennium Management LLC grew its holdings in Teledyne Technologies by 88.4% during the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after purchasing an additional 59,942 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Teledyne Technologies in the fourth quarter valued at approximately $19,310,000. Finally, State Street Corp lifted its stake in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after buying an additional 37,884 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

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.