Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $2,989,092.96 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $487.33, for a total value of $22,453,729.75.
• On Friday, November 8th, Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50.

Teledyne Technologies Stock Down 1.5 %

NYSE:TDY opened at $510.96 on Friday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The company has a market cap of $23.81 billion, a PE ratio of 29.66, a P/E/G ratio of 3.21 and a beta of 1.01. The firm’s 50 day simple moving average is $477.57 and its 200 day simple moving average is $451.08.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business earned $5.44 earnings per share. Teledyne Technologies’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 21.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. TD Cowen increased their price objective on shares of 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 boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $531.00.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors have recently made changes to their positions in TDY. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies in the third quarter worth approximately $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 bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $46,000. Finally, Quarry LP raised its stake in Teledyne Technologies by 706.3% during the second quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 113 shares during 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.