Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $1,925,212.50 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Robert Mehrabian also recently made the following trade(s):

• On Monday, November 11th, Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75.

Teledyne Technologies Trading Down 0.3 %

NYSE:TDY opened at $486.57 on Thursday. The firm has a 50-day simple moving average of $448.38 and a 200-day simple moving average of $417.49. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The firm has a market cap of $22.67 billion, a P/E ratio of 24.60, a P/E/G ratio of 3.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.05 earnings per share. Equities analysts anticipate that Teledyne Technologies Incorporated will post 19.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds have recently made changes to their positions in the stock. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies in the third quarter worth about $27,000. American National Bank bought a new position in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Innealta Capital LLC bought a new position in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Tortoise Investment Management LLC boosted its stake in 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 valued at $29,000 after acquiring an additional 24 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Teledyne Technologies in the third quarter worth $32,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TDY. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday. Vertical Research started coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen lifted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $517.50.

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.