Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) Vice Chairman Sells 1,500 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) Vice Chairman Jason Vanwees sold 1,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $488.71, for a total value of $733,065.00. Following the sale, the insider now directly owns 2,900 shares of the company’s stock, valued at approximately $1,417,259. This represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Teledyne Technologies Price Performance

NYSE TDY traded up $2.30 on Friday, reaching $467.25. 609,187 shares of the company’s stock traded hands, compared to its average volume of 243,270. The stock has a market cap of $21.77 billion, a PE ratio of 23.62, a P/E/G ratio of 3.30 and a beta of 1.01. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The stock has a 50-day simple moving average of $469.79 and a 200 day simple moving average of $431.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

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 for the quarter, beating the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.05 EPS. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its stake in shares of 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 valued at $29,000 after acquiring an additional 24 shares during the last quarter. Metis Global Partners LLC increased its holdings in Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after purchasing an additional 24 shares during the period. Crumly & Associates Inc. raised its position in Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after purchasing an additional 25 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after buying an additional 25 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Teledyne Technologies by 4.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Needham & Company LLC raised 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. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $531.00.

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.