Teledyne Technologies (NYSE:TDY) Stock Price Breaks Below 200 Day Moving Average – Time to Sell?

Teledyne Technologies Incorporated (NYSE:TDY) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $634.41 and traded as low as $616.71. Teledyne Technologies shares last traded at $631.9830, with a volume of 433,708 shares.

Analysts Set New Price Targets

Several research analysts have commented on the company. Zacks Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Morgan Stanley increased their price objective on Teledyne Technologies from $715.00 to $725.00 and gave the company an “equal weight” rating in a research report on Tuesday. Needham & Company LLC increased their price objective on Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Weiss Ratings upgraded shares of Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 29th. Finally, Stifel Nicolaus boosted their target price on shares of Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $731.83.

Teledyne Technologies Stock Down 4.8%

The business’s fifty day moving average price is $619.58 and its 200 day moving average price is $634.41. The company has a market capitalization of $29.10 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.44 and a beta of 0.89. The company has a current ratio of 2.31, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18.

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, topping 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $5.57 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Teledyne Technologies Incorporated will post 25.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director directly owned 55,783 shares in the company, valued at $37,951,406.22. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Teledyne Technologies during the 2nd quarter valued at about $2,751,121,000. Jupiter Topco LLC acquired a new position in Teledyne Technologies in the second quarter valued at about $1,027,237,000. Bank of America Corp DE boosted its position in Teledyne Technologies by 4.5% in the first quarter. Bank of America Corp DE now owns 671,088 shares of the scientific and technical instruments company’s stock valued at $406,015,000 after buying an additional 28,822 shares in the last quarter. Findlay Park Partners LLP acquired a new position in Teledyne Technologies in the second quarter valued at about $277,363,000. Finally, Sei Investments Co. grew its stake in Teledyne Technologies by 3.6% during the first quarter. Sei Investments Co. now owns 414,989 shares of the scientific and technical instruments company’s stock worth $251,074,000 after buying an additional 14,262 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

About Teledyne Technologies

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.