Teledyne Technologies Incorporated (NYSE:TDY) COO Sells $3,203,013.16 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) COO George C. Bobb III sold 6,308 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Teledyne Technologies Stock Down 0.1 %

TDY stock opened at $508.81 on Thursday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $518.85. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 3.24 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 2.33. The business’s 50-day moving average is $476.25 and its two-hundred day moving average is $449.79.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business posted $5.44 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on TDY shares. TD Cowen lifted their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Finally, Needham & Company LLC upped their price objective 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $531.00.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after buying an additional 30,157 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the fourth quarter worth $46,000. WCM Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 3,929 shares of the scientific and technical instruments company’s stock valued at $1,828,000 after purchasing an additional 334 shares during the last quarter. EULAV Asset Management increased its holdings in shares of Teledyne Technologies by 78.5% in the fourth quarter. EULAV Asset Management now owns 43,200 shares of the scientific and technical instruments company’s stock worth $20,050,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Teledyne Technologies in the 4th quarter worth approximately $376,000. 91.58% of the stock is 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.