Teledyne Technologies (NYSE:TDY) Shares Break Above 200 Day Moving Average – Time to Sell?

Teledyne Technologies Incorporated (NYSE:TDY) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $630.69 and traded as high as $653.88. Teledyne Technologies shares last traded at $646.6920, with a volume of 443,318 shares changing hands.

Wall Street Analyst Weigh In

TDY has been the subject of several recent analyst reports. Needham & Company LLC boosted their price objective on Teledyne Technologies from $760.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Morgan Stanley raised their target price on shares of Teledyne Technologies from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Citigroup lifted their target price on shares of Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Teledyne Technologies in a research note on Wednesday, August 19th. Finally, Stifel Nicolaus boosted their price target on shares of Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $730.17.

Teledyne Technologies Stock Performance

The company has a market cap of $30.82 billion, a PE ratio of 30.38, a PEG ratio of 2.30 and a beta of 0.89. The business’s 50-day moving average is $617.22 and its 200 day moving average is $631.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 2.31.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.55. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business posted $5.57 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Teledyne Technologies Incorporated will post 25.59 EPS for the current fiscal year.

Insider Activity

In related news, Director Simon Lorne sold 6,449 shares of Teledyne Technologies stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director directly owned 55,783 shares of the company’s stock, valued at $37,951,406.22. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors have recently added to or reduced their stakes in TDY. International Assets Investment Management LLC grew its stake in shares of Teledyne Technologies by 1,789.9% in the third quarter. International Assets Investment Management LLC now owns 10,300 shares of the scientific and technical instruments company’s stock worth $6,250,000 after purchasing an additional 9,755 shares during the last quarter. Partners Wealth Management LLC purchased a new position in Teledyne Technologies during the 3rd quarter valued at about $212,000. Choreo LLC raised its position in Teledyne Technologies by 50.6% during the 3rd quarter. Choreo LLC now owns 2,388 shares of the scientific and technical instruments company’s stock valued at $1,449,000 after purchasing an additional 802 shares during the last quarter. D.A. Davidson & CO. raised its position in Teledyne Technologies by 61.0% during the 3rd quarter. D.A. Davidson & CO. now owns 657 shares of the scientific and technical instruments company’s stock valued at $399,000 after purchasing an additional 249 shares during the last quarter. Finally, North Dakota State Investment Board lifted its holdings in Teledyne Technologies by 2.0% in the 3rd quarter. North Dakota State Investment Board now owns 1,410 shares of the scientific and technical instruments company’s stock worth $856,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.