Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells 5,768 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 11th, Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75.
• 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 Price Performance

Shares of Teledyne Technologies stock traded down $7.88 on Friday, reaching $510.96. 297,351 shares of the stock were exchanged, compared to its average volume of 264,592. The firm has a market cap of $23.81 billion, a PE ratio of 29.66, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The firm’s 50 day moving average is $476.25 and its 200-day moving average is $449.79. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping 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 analysts’ expectations of $1.45 billion. During the same period in the prior year, the company posted $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 21.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on TDY. TD Cowen upped their price objective 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. 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 objective for the company. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC raised 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $531.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TDY. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies during the third quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in Teledyne Technologies during the third quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies in the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies in the 4th quarter worth approximately $46,000. Finally, Quarry LP lifted its holdings in shares of 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 acquiring an additional 113 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

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.