Michael T. Smith Sells 2,100 Shares of Teledyne Technologies Incorporated (NYSE:TDY) Stock

Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith sold 2,100 shares of Teledyne Technologies stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $510.50, for a total transaction of $1,072,050.00. Following the completion of the transaction, the director now owns 52,835 shares of the company’s stock, valued at $26,972,267.50. This represents a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded down $0.37 on Wednesday, hitting $508.81. The stock had a trading volume of 226,306 shares, compared to its average volume of 265,378. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 3.24 and a beta of 1.01. The company has a current ratio of 2.33, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $518.85. The company’s 50 day moving average price is $476.25 and its 200 day moving average price is $449.79.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. lifted its position in Teledyne Technologies by 4.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 21 shares during the period. Metis Global Partners LLC raised its stake in shares of Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after purchasing an additional 24 shares during the last quarter. Crumly & Associates Inc. lifted its holdings in shares of Teledyne Technologies by 3.8% during the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after purchasing an additional 25 shares during the period. Raymond James Trust N.A. grew its position in Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after buying an additional 25 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Teledyne Technologies by 4.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.