Teledyne Technologies Incorporated (NYSE:TDY) Vice Chairman Jason Vanwees Sells 3,700 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now owns 51,324 shares of the company’s stock, valued at $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Teledyne Technologies Price Performance

Shares of TDY traded down $13.19 during mid-day trading on Tuesday, reaching $499.77. The company had a trading volume of 235,127 shares, compared to its average volume of 251,322. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 3.14 and a beta of 1.03. 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’s 50 day simple moving average is $489.61 and its 200 day simple moving average is $465.61. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50.

Teledyne Technologies (NYSE:TDY) last issued its earnings results 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $5.44 earnings per share. Analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analysts Set New Price Targets

TDY has been the subject of a number of research reports. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $538.00.

Institutional Trading of Teledyne Technologies

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock valued at $2,604,922,000 after buying an additional 46,479 shares during the period. State Street Corp grew its holdings in shares of Teledyne Technologies by 1.9% during the third 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. Janus Henderson Group PLC increased its holdings in Teledyne Technologies by 0.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company’s stock worth $799,734,000 after purchasing an additional 13,607 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Teledyne Technologies by 1.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,316,360 shares of the scientific and technical instruments company’s stock worth $610,962,000 after purchasing an additional 20,165 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Teledyne Technologies by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after purchasing an additional 28,224 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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.