Teledyne Technologies Incorporated (NYSE:TDY) COO George C. Bobb III Sells 6,308 Shares

Teledyne Technologies Incorporated (NYSE:TDYGet Free Report) COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Teledyne Technologies Stock Performance

Shares of TDY stock traded down $5.91 during trading hours on Monday, hitting $508.50. The stock had a trading volume of 331,814 shares, compared to its average volume of 270,271. The firm has a market capitalization of $23.70 billion, a PE ratio of 29.51, a PEG ratio of 3.24 and a beta of 1.01. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $518.85. The stock’s 50 day moving average is $473.74 and its 200 day moving average is $447.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDYGet Free Report) last issued its quarterly earnings results 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 return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1,451,400 billion. During the same period last year, the company earned $5.44 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current fiscal year.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDY. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Quarry LP increased its holdings in Teledyne Technologies by 706.3% during the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 113 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

TDY has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen raised their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $531.00.

Check Out Our Latest Stock Analysis on Teledyne Technologies

Teledyne Technologies Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Teledyne Technologies (NYSE:TDY)

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