Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian Sells 5,768 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were 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 stock was sold at an average price of $490.50, for a total value of $1,925,212.50.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded down $7.88 during mid-day trading on Friday, hitting $510.96. The company had a trading volume of 297,351 shares, compared to its average volume of 264,592. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month 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 stock has a market cap of $23.81 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.21 and a beta of 1.01. The firm’s 50 day simple moving average is $476.25 and its two-hundred day simple moving average is $449.79.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.44 earnings per share. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on TDY shares. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen upped their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies has an average rating of “Buy” and a consensus target price of $531.00.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies during the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in Teledyne Technologies during the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies during the 3rd quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at $46,000. Finally, Quarry LP raised its position in shares of Teledyne Technologies by 706.3% during the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 113 shares during the last quarter. 91.58% of the stock is currently 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.