Melanie Susan Cibik Sells 2,538 Shares of Teledyne Technologies Incorporated (NYSE:TDY) Stock

Teledyne Technologies Incorporated (NYSE:TDY) EVP Melanie Susan Cibik sold 2,538 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $513.02, for a total value of $1,302,044.76. Following the completion of the sale, the executive vice president now owns 32,100 shares in the company, valued at $16,467,942. This represents a 7.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Teledyne Technologies Trading Up 0.1 %

Shares of NYSE:TDY traded up $0.62 during mid-day trading on Tuesday, hitting $509.22. The stock had a trading volume of 220,792 shares, compared to its average volume of 267,681. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.33. The company has a market cap of $23.73 billion, a PE ratio of 29.55, a P/E/G ratio of 3.24 and a beta of 1.01. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $518.85. The company’s 50 day moving average is $475.48 and its 200-day moving average is $449.37.

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, 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 business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $5.44 EPS. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.3 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TDY. State Street Corp boosted its holdings in shares of 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 valued at $893,219,000 after buying an additional 37,884 shares during the period. Janus Henderson Group PLC increased its holdings 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 valued at $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 valued at $520,335,000 after acquiring an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Teledyne Technologies by 6.0% during 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 buying an additional 64,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 2,206 shares during the last quarter. 91.58% of the stock is 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.