Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $22,453,729.75 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robert Mehrabian also recently made the following trade(s):

• On Friday, November 8th, Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50.

Teledyne Technologies Trading Down 2.1 %

NYSE:TDY opened at $476.56 on Friday. The firm has a market capitalization of $22.21 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.39 and a beta of 1.01. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $492.00. The business’s 50-day moving average price is $448.38 and its two-hundred day moving average price is $417.49. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $5.05 EPS. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC boosted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Vertical Research assumed coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price for the company. TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $517.50.

Institutional Trading of Teledyne Technologies

Large investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the third quarter worth about $27,000. American National Bank bought a new stake in Teledyne Technologies during the 2nd quarter worth approximately $28,000. Innealta Capital LLC bought a new stake in Teledyne Technologies during the 2nd quarter worth approximately $28,000. Tortoise Investment Management LLC lifted its stake in Teledyne Technologies by 48.0% in 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 buying an additional 24 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Teledyne Technologies in the third quarter valued at approximately $32,000. Institutional investors own 91.58% of the company’s stock.

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.