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 business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $73,769,732.49. This represents a 3.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 31st, Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96.
• On Monday, November 11th, Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75.

Teledyne Technologies Trading Up 0.3 %

Teledyne Technologies stock opened at $511.53 on Monday. The stock has a market cap of $23.84 billion, a PE ratio of 29.69, a P/E/G ratio of 3.19 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $480.48 and a 200 day moving average price of $455.37. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business posted $5.44 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its position in Teledyne Technologies by 5.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 923 shares of the scientific and technical instruments company’s stock worth $428,000 after buying an additional 47 shares during the period. Net Worth Advisory Group increased its stake in shares of Teledyne Technologies by 1.5% during the 4th quarter. Net Worth Advisory Group now owns 1,802 shares of the scientific and technical instruments company’s stock valued at $836,000 after acquiring an additional 27 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 63.2% during the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 48 shares during the period. Independent Advisor Alliance acquired a new stake in shares of Teledyne Technologies in the fourth quarter worth approximately $251,000. Finally, Daiwa Securities Group Inc. grew its holdings in Teledyne Technologies by 5.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,223 shares of the scientific and technical instruments company’s stock valued at $3,817,000 after purchasing an additional 390 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TDY. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group began coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $538.00.

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.