Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells 3,925 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now directly owns 171,802 shares in the company, valued at $84,268,881. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction of $22,453,729.75.

Teledyne Technologies Stock Performance

Shares of TDY stock traded up $0.21 on Tuesday, reaching $487.83. The stock had a trading volume of 187,851 shares, compared to its average volume of 240,511. The stock has a market cap of $22.73 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The company has a 50 day simple moving average of $445.88 and a 200 day simple moving average of $416.21.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TDY. Vanguard Group Inc. boosted its stake in Teledyne Technologies by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock worth $2,375,905,000 after purchasing an additional 16,189 shares during the period. Janus Henderson Group PLC boosted its position in shares of Teledyne Technologies by 3.2% during the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock worth $676,041,000 after acquiring an additional 48,397 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Teledyne Technologies by 17.8% during the second 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 in the last quarter. Earnest Partners LLC increased its holdings in Teledyne Technologies by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after acquiring an additional 13,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Teledyne Technologies by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after purchasing an additional 32,339 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the subject of several analyst reports. Vertical Research started coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $450.00 to $550.00 in a report on Friday. Finally, 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 report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $517.50.

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.