Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Up 25.3% in March

Teledyne Technologies Incorporated (NYSE:TDY) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 507,600 shares, a growth of 25.3% from the March 15th total of 405,200 shares. Based on an average daily volume of 278,300 shares, the short-interest ratio is presently 1.8 days. Currently, 1.1% of the company’s stock are sold short.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,571 shares of company stock valued at $17,709,721. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDY. Quarry LP acquired a new position in shares of Teledyne Technologies during the 4th quarter worth $28,000. NBC Securities Inc. acquired a new position in Teledyne Technologies during the 1st quarter worth approximately $28,000. Hurley Capital LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth $33,000. Ancora Advisors LLC boosted its holdings in shares of Teledyne Technologies by 192.3% during the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 50 shares in the last quarter. Finally, City Holding Co. acquired a new position in Teledyne Technologies in the 1st quarter worth about $38,000. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Price Performance

NYSE TDY traded down $8.48 during midday trading on Monday, hitting $453.71. The company had a trading volume of 327,464 shares, compared to its average volume of 259,812. The company has a market capitalization of $21.25 billion, a PE ratio of 26.33, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $486.27 and a 200-day moving average price of $478.54.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company posted $5.44 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TDY shares. Bank of America upped their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $548.00.

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.