Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $1,925,212.50 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 Trading Down 2.1 %

Shares of NYSE:TDY opened at $476.56 on Friday. The stock has a 50 day moving average of $448.38 and a 200 day moving average of $417.49. The company has a market cap of $22.21 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 3.39 and a beta of 1.01. 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 Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $5.05 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TDY. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $450.00 to $550.00 in a research note 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 boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen boosted their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $517.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tortoise Investment Management LLC boosted its stake in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the period. Metis Global Partners LLC boosted its stake in Teledyne Technologies by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after purchasing an additional 24 shares during the period. Crumly & Associates Inc. raised its holdings 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 worth $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its holdings 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 worth $241,000 after acquiring an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings 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 worth $298,000 after acquiring an additional 26 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

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.