Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) EVP Sells 2,699 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) EVP Melanie Susan Cibik sold 2,699 shares of Teledyne Technologies stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $510.03, for a total value of $1,376,570.97. Following the completion of the transaction, the executive vice president now directly owns 27,235 shares of the company’s stock, valued at approximately $13,890,667.05. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Melanie Susan Cibik also recently made the following trade(s):

• On Monday, January 27th, Melanie Susan Cibik sold 2,538 shares of Teledyne Technologies stock. The shares were sold at an average price of $513.02, for a total transaction of $1,302,044.76.

Teledyne Technologies Stock Performance

NYSE TDY traded down $0.37 during trading hours on Wednesday, hitting $508.81. The company had a trading volume of 226,306 shares, compared to its average volume of 265,378. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $518.85. 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 $23.71 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01. The business has a 50 day moving average of $476.25 and a 200-day moving average of $449.79.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data 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. The company 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%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.44 earnings per share. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 21.3 EPS for the current year.

Wall Street Analyst Weigh In

TDY has been the topic of several analyst reports. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen raised their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies has a consensus rating of “Buy” and a consensus 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 the stock. International Assets Investment Management LLC increased its holdings in shares of 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 during the period. JPMorgan Chase & Co. increased its stake in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares during the period. Millennium Management LLC lifted its stake in shares of Teledyne Technologies by 88.4% in the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock worth $49,565,000 after acquiring an additional 59,942 shares during the period. Jennison Associates LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth about $19,310,000. Finally, State Street Corp raised its holdings in 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. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.