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 on Monday, January 27th. The stock was sold at an average price of $510.50, for a total value of $1,072,050.00. Following the transaction, the director now owns 52,835 shares in the company, valued at $26,972,267.50. The trade was a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $508.81 on Thursday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $518.85. The business’s fifty day simple moving average is $476.25 and its 200-day simple moving average is $449.79. The company has a current ratio of 2.33, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The company has a market cap of $23.71 billion, a PE ratio of 29.53, a PEG ratio of 3.24 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business posted $5.44 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current fiscal year.

Institutional Trading of Teledyne Technologies

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after buying an additional 30,157 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies during the 4th quarter worth about $46,000. WCM Investment Management LLC grew its stake in Teledyne Technologies by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 3,929 shares of the scientific and technical instruments company’s stock valued at $1,828,000 after purchasing an additional 334 shares during the last quarter. EULAV Asset Management increased its holdings in shares of Teledyne Technologies by 78.5% in the fourth quarter. EULAV Asset Management now owns 43,200 shares of the scientific and technical instruments company’s stock valued at $20,050,000 after purchasing an additional 19,000 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in shares of Teledyne Technologies in the fourth quarter worth about $376,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TDY. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen boosted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC increased their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average 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.