Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $1,925,212.50 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares in the company, valued at $84,268,881. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75.

Teledyne Technologies Trading Up 0.1 %

Shares of TDY opened at $487.88 on Wednesday. The firm has a market cap of $22.74 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The business has a 50-day moving average of $445.88 and a 200 day moving average of $416.21.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for 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 business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.05 EPS. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC bought a new stake in Teledyne Technologies during the 3rd quarter worth approximately $27,000. American National Bank purchased a new stake in shares of Teledyne Technologies in the second quarter worth $28,000. Innealta Capital LLC bought a new stake in Teledyne Technologies during the second quarter valued at $28,000. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC increased its stake in Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 67 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TDY. Vertical Research assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. TD Cowen increased their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. 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. Finally, Needham & Company LLC raised 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.