Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian Sells 5,007 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 5,007 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $510.33, for a total value of $2,555,222.31. Following the completion of the transaction, the chairman now owns 144,553 shares in the company, valued at $73,769,732.49. This represents a 3.35 % 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.

Robert Mehrabian also recently made the following trade(s):

• On Friday, January 31st, Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96.
• On Monday, November 11th, Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75.

Teledyne Technologies Trading Up 0.3 %

Shares of NYSE:TDY traded up $1.53 during trading on Friday, reaching $511.53. 195,313 shares of the stock were exchanged, compared to its average volume of 257,305. The firm’s 50-day moving average price is $479.98 and its 200 day moving average price is $454.21. The firm has a market cap of $23.84 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 3.21 and a beta of 1.02. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. 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 (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new stake in Teledyne Technologies in the third quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies during the third quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies during the 4th quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 108 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies presently has an average rating of “Buy” and a consensus price target of $538.00.

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.