Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $2,555,222.31 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $510.33, for a total value of $2,555,222.31. Following the completion of the sale, the chairman now owns 144,553 shares in the company, valued at approximately $73,769,732.49. This represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 31st, Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96.
• 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 Up 0.3 %

Shares of Teledyne Technologies stock opened at $511.53 on Monday. The company’s fifty day moving average is $480.48 and its two-hundred day moving average is $455.37. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market capitalization of $23.84 billion, a P/E ratio of 29.69, a PEG ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) 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 firm 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 firm posted $5.44 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

Institutional Investors Weigh In On Teledyne Technologies

Several large investors have recently modified their holdings of TDY. State Street Corp increased its stake 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 period. Janus Henderson Group PLC boosted its holdings in shares of Teledyne Technologies by 0.6% in the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after acquiring an additional 9,368 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Teledyne Technologies by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after acquiring an additional 28,224 shares during the period. JPMorgan Chase & Co. raised its holdings 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Teledyne Technologies by 10.5% in 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 purchasing an additional 30,157 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

TDY has been the subject of several recent analyst reports. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and a consensus price target of $538.00.

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.