Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) COO Sells 6,308 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the transaction, the chief operating officer now directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Teledyne Technologies Trading Down 1.1 %

TDY stock opened at $508.50 on Tuesday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $518.85. The company has a current ratio of 2.33, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $473.74 and its 200-day moving average is $447.76. The firm has a market cap of $23.70 billion, a P/E ratio of 29.51, a P/E/G ratio of 3.24 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last announced its quarterly 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. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1,451,400 billion. During the same period in the prior year, the business posted $5.44 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies in the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $39,000. Quarry LP grew its position in Teledyne Technologies by 706.3% during the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 113 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. 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. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC raised their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $531.00.

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.