Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian Sells 5,768 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75.
• On Friday, November 8th, Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $510.96 on Friday. The company has a market capitalization of $23.81 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.21 and a beta of 1.01. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The stock’s 50 day moving average is $477.57 and its 200-day moving average is $451.08.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm posted $5.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts expect that Teledyne Technologies Incorporated will post 21.4 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Teledyne Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of Teledyne Technologies by 44,457.2% during the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after purchasing an additional 73,799 shares in the last quarter. JPMorgan Chase & Co. grew its position in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after buying an additional 64,617 shares in the last quarter. Jennison Associates LLC bought a new position in Teledyne Technologies during the 4th quarter worth $19,310,000. State Street Corp raised its holdings in Teledyne Technologies by 1.9% in the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after acquiring an additional 37,884 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Teledyne Technologies by 217.5% during the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after acquiring an additional 36,867 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.