George C. Bobb III Sells 6,308 Shares of Teledyne Technologies Incorporated (NYSE:TDY) 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 shares were sold at an average price of $507.77, for a total value 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 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 can be accessed through the SEC website.

Teledyne Technologies Trading Up 0.1 %

Shares of TDY stock opened at $509.22 on Wednesday. The company’s fifty day simple moving average is $475.48 and its two-hundred day simple moving average is $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. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $518.85. The stock has a market capitalization 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 released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.44 earnings per share. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TDY shares. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC lifted their price target on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and an average price target of $531.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after acquiring an additional 37,884 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Teledyne Technologies by 0.6% in the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after purchasing an additional 9,368 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Teledyne Technologies by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after purchasing an additional 28,224 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Teledyne Technologies by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 291,279 shares of the scientific and technical instruments company’s stock worth $127,481,000 after purchasing an additional 2,206 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other 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.