Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith Sells 2,025 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Teledyne Technologies Price Performance

TDY opened at $475.05 on Friday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The stock has a 50-day moving average price of $467.11 and a 200-day moving average price of $429.19. The firm has a market cap of $22.14 billion, a PE ratio of 24.02, a P/E/G ratio of 3.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $5.05 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TDY. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company 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 report on Monday, November 11th. UBS Group began coverage on shares of Teledyne Technologies in a research note on Tuesday. They issued a “buy” rating and a $585.00 price target for the company. TD Cowen boosted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies presently has a consensus rating of “Buy” and a consensus target price of $531.00.

Institutional Investors Weigh In On Teledyne Technologies

Institutional investors have recently modified their holdings of the business. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies in the 3rd quarter worth about $27,000. American National Bank purchased a new position in shares of Teledyne Technologies during the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies in the second quarter worth approximately $28,000. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $32,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.