Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Update

Teledyne Technologies Incorporated (NYSE:TDY) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 313,100 shares, a decline of 21.2% from the October 15th total of 397,100 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 211,600 shares, the short-interest ratio is currently 1.5 days.

Teledyne Technologies Trading Down 1.3 %

Shares of Teledyne Technologies stock traded down $6.41 during trading on Friday, hitting $470.15. 292,840 shares of the company were exchanged, compared to its average volume of 253,442. The firm has a market capitalization of $21.91 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01. The firm’s fifty day moving average price is $450.27 and its 200 day moving average price is $418.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $5.05 EPS. Teledyne Technologies’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Teledyne Technologies will post 19.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on TDY. Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Vertical Research began coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $517.50.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TDY. Empowered Funds LLC increased its position in shares of Teledyne Technologies by 24.6% during the 1st quarter. Empowered Funds LLC now owns 588 shares of the scientific and technical instruments company’s stock worth $252,000 after purchasing an additional 116 shares during the last quarter. US Bancorp DE raised its holdings in Teledyne Technologies by 1.7% in the 1st quarter. US Bancorp DE now owns 7,696 shares of the scientific and technical instruments company’s stock valued at $3,304,000 after acquiring an additional 130 shares in the last quarter. ProShare Advisors LLC grew its stake in Teledyne Technologies by 14.3% during the first quarter. ProShare Advisors LLC now owns 9,907 shares of the scientific and technical instruments company’s stock worth $4,253,000 after buying an additional 1,238 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Teledyne Technologies by 15.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,978 shares of the scientific and technical instruments company’s stock valued at $1,279,000 after acquiring an additional 401 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Teledyne Technologies by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock valued at $21,602,000 after purchasing an additional 1,665 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Company Profile

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.