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 shares were sold at an average price of $510.50, for a total value of $1,072,050.00. Following the completion of the sale, the director now owns 52,835 shares in the company, valued at approximately $26,972,267.50. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Teledyne Technologies Price Performance

TDY traded down $0.37 during midday trading on Wednesday, reaching $508.81. 226,306 shares of the company’s stock were exchanged, compared to its average volume of 265,378. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $518.85. The stock has a market capitalization of $23.71 billion, a PE ratio of 29.53, a P/E/G ratio of 3.24 and a beta of 1.01. 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 business’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 (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.44 EPS. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Teledyne Technologies

A number of large investors have recently made changes to their positions in TDY. State Street Corp grew 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 worth $893,219,000 after acquiring an additional 37,884 shares during the period. Janus Henderson Group PLC grew its position 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 purchasing an additional 9,368 shares during the period. Geode Capital Management LLC increased its stake in 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 during the last quarter. JPMorgan Chase & Co. lifted its position 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 buying an additional 64,617 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Teledyne Technologies by 10.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after buying an additional 30,157 shares during the last quarter. Institutional investors and hedge funds 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.