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 the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $510.03, for a total value of $1,376,570.97. Following the sale, the executive vice president now directly owns 27,235 shares of the company’s stock, valued at $13,890,667.05. This represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 value of $1,302,044.76.

Teledyne Technologies Stock Up 2.0 %

TDY opened at $519.03 on Friday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $519.38. The company’s 50-day moving average price is $476.25 and its two-hundred day moving average price is $449.79. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 3.24 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates 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 period in the prior year, the company earned $5.44 earnings per share. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TDY. TD Cowen lifted 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. UBS Group began coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $531.00.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDY. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies in the third quarter worth about $27,000. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the third quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies during the 4th quarter worth about $46,000. Finally, Quarry LP boosted its stake in Teledyne Technologies by 706.3% in the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 113 shares during the period. 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.