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 the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This trade 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 through this link.

Teledyne Technologies Trading Up 0.1 %

Shares of TDY stock opened at $509.22 on Wednesday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $518.85. The firm has a fifty day moving average price of $475.48 and a 200-day moving average price of $449.37. 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 company has a market cap of $23.73 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 3.24 and a beta of 1.01.

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, 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm posted $5.44 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds have recently modified their holdings of the business. Stratos Wealth Partners LTD. lifted its stake in Teledyne Technologies by 4.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after purchasing an additional 21 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after buying an additional 24 shares in the last quarter. Crumly & Associates Inc. raised its position in shares of Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after buying an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Teledyne Technologies by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after buying an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after buying an additional 26 shares in the last quarter. Institutional investors 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.