Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells 3,925 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 11th, Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75.

Teledyne Technologies Stock Performance

Shares of TDY stock traded up $0.21 during trading hours on Tuesday, hitting $487.83. The company’s stock had a trading volume of 187,851 shares, compared to its average volume of 240,511. The stock has a market cap of $22.73 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00. The company has a 50 day moving average of $445.88 and a 200 day moving average of $416.21. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.05 earnings per share. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TDY. Orion Portfolio Solutions LLC grew its stake in shares of Teledyne Technologies by 46.2% in the first quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company’s stock worth $1,786,000 after acquiring an additional 1,315 shares in the last quarter. Clearbridge Investments LLC grew its position in Teledyne Technologies by 11.2% during the first quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock worth $114,644,000 after buying an additional 26,793 shares during the period. State Board of Administration of Florida Retirement System raised its position in Teledyne Technologies by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock worth $21,602,000 after acquiring an additional 1,665 shares during the last quarter. Tidal Investments LLC raised its stake in Teledyne Technologies by 131.5% in the 1st quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock valued at $1,604,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in shares of Teledyne Technologies by 11.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after acquiring an additional 2,152 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TDY. TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America raised shares of 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 research report on Friday. Vertical Research assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Finally, Needham & Company LLC raised their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $517.50.

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.