Teledyne Technologies (NYSE:TDY) Stock: Insider Cynthia Belak Sells 4,528 Shares

Teledyne Technologies Incorporated (NYSE:TDY) VP Cynthia Belak sold 4,528 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $657.45, for a total transaction of $2,976,933.60. Following the sale, the vice president owned 4,642 shares of the company’s stock, valued at $3,051,882.90. This represents a 49.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Teledyne Technologies Trading Down 0.6%

Shares of TDY opened at $643.54 on Friday. The stock has a market capitalization of $29.63 billion, a P/E ratio of 25.80, a PEG ratio of 2.38 and a beta of 0.89. Teledyne Technologies Incorporated has a twelve month low of $483.02 and a twelve month high of $697.67. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $622.02 and a two-hundred day simple moving average of $635.49.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.55. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.57 earnings per share. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 25.58 EPS for the current year.

Analyst Upgrades and Downgrades

TDY has been the topic of a number of research analyst reports. Zacks Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Needham & Company LLC increased 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. Weiss Ratings upgraded Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Morgan Stanley boosted their target price on Teledyne Technologies from $715.00 to $725.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 3rd. Finally, Barclays upped their target price on Teledyne Technologies from $640.00 to $646.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $731.83.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Core Capital Management & Research inc. bought a new position in shares of Teledyne Technologies during the second quarter valued at approximately $3,035,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $7,117,000. Maren Capital LLC increased its position in Teledyne Technologies by 4.1% during the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company’s stock valued at $251,373,000 after buying an additional 14,806 shares in the last quarter. Royal Bank of Canada increased its position in Teledyne Technologies by 1.9% during the 1st quarter. Royal Bank of Canada now owns 214,721 shares of the scientific and technical instruments company’s stock valued at $129,908,000 after buying an additional 4,062 shares in the last quarter. Finally, Nykredit A S purchased a new position in Teledyne Technologies during the second quarter valued at $12,911,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection. The company’s businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.