Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian Sells 46,075 Shares

Teledyne Technologies Incorporated (NYSE:TDY) Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $1,925,212.50.

Teledyne Technologies Trading Up 0.1 %

Shares of NYSE TDY opened at $487.88 on Wednesday. The firm has a 50 day moving average price of $445.88 and a two-hundred day moving average price of $416.21. The stock has a market cap of $22.74 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $5.05 earnings per share. Teledyne Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Teledyne Technologies by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock worth $2,375,905,000 after purchasing an additional 16,189 shares during the last quarter. Janus Henderson Group PLC raised its stake in Teledyne Technologies by 3.2% during the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock worth $676,041,000 after buying an additional 48,397 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Teledyne Technologies by 17.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after buying an additional 186,849 shares during the period. Earnest Partners LLC boosted its position in Teledyne Technologies by 3.5% during the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after acquiring an additional 13,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Teledyne Technologies by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after acquiring an additional 32,339 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.