Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith Sells 2,025 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $4.14 during trading hours on Thursday, hitting $478.96. 233,052 shares of the company’s stock were exchanged, compared to its average volume of 242,216. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The stock’s 50-day moving average is $466.32 and its 200-day moving average is $428.84.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $5.05 earnings per share. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of TDY. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after acquiring an additional 186,849 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after purchasing an additional 87,925 shares in the last quarter. International Assets Investment Management LLC increased its stake in Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after purchasing an additional 73,799 shares in the last quarter. Millennium Management LLC raised its holdings in Teledyne Technologies by 88.4% in the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock worth $49,565,000 after purchasing an additional 59,942 shares during the period. Finally, State Street Corp boosted its position in shares of Teledyne Technologies by 1.9% during 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 purchasing an additional 37,884 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen raised their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Needham & Company LLC increased their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday. They issued a “buy” rating and a $585.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $531.00.

Teledyne Technologies Company Profile

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.