Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) VP Sells 5,745 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Teledyne Technologies Trading Up 0.1 %

NYSE:TDY opened at $509.22 on Wednesday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $518.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.35. The stock has a market capitalization of $23.73 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01. The business’s 50-day simple moving average is $475.48 and its 200-day simple moving average is $449.37.

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

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TDY. International Assets Investment Management LLC raised its position in Teledyne Technologies by 44,457.2% in 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 buying an additional 73,799 shares during the last quarter. JPMorgan Chase & Co. raised its position in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares during the last quarter. Millennium Management LLC raised its position in Teledyne Technologies by 88.4% in the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after buying an additional 59,942 shares during the last quarter. Jennison Associates LLC acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $19,310,000. Finally, State Street Corp raised its position in Teledyne Technologies by 1.9% in the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after buying an additional 37,884 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC raised their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $531.00.

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.