Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) Chairman Sells $2,989,092.96 in Stock

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

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 value 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

NYSE:TDY opened at $510.96 on Monday. The stock has a 50 day moving average price of $477.57 and a 200 day moving average price of $451.76. The stock 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. 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 results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $5.44 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Teledyne Technologies Incorporated will post 21.4 EPS for the current fiscal year.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies in the third quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies during the 3rd quarter worth about $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the fourth quarter valued at about $46,000. Finally, Quarry LP boosted its stake in Teledyne Technologies by 706.3% during the second quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $531.00.

About Teledyne Technologies

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.