Teledyne Technologies Incorporated (NYSE:TDY) CEO Robert Mehrabian Sells 45,500 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY) CEO Robert Mehrabian sold 45,500 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the sale, the chief executive officer now owns 196,052 shares of the company’s stock, valued at $81,583,118.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Teledyne Technologies Trading Up 0.4 %

Shares of NYSE:TDY opened at $417.98 on Wednesday. The stock has a 50 day moving average of $401.78 and a 200 day moving average of $413.09. The company has a market cap of $19.68 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. Teledyne Technologies Incorporated has a 12-month low of $325.00 and a 12-month high of $448.71. The company has a current ratio of 1.62, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Teledyne Technologies had a return on equity of 10.90% and a net margin of 13.75%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $4.43 earnings per share. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 19.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kistler Tiffany Companies LLC bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth about $25,000. Benjamin Edwards Inc. increased its position in shares of Teledyne Technologies by 137.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 69 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. CVA Family Office LLC purchased a new stake in Teledyne Technologies during the 4th quarter valued at $30,000. TCI Wealth Advisors Inc. boosted its stake in Teledyne Technologies by 236.4% during the first quarter. TCI Wealth Advisors Inc. now owns 74 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 52 shares during the period. Finally, Belpointe Asset Management LLC bought a new position in Teledyne Technologies during the fourth quarter valued at $36,000. 87.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TDY has been the subject of a number of research reports. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $423.00 to $495.00 in a research note on Monday, August 14th. Needham & Company LLC reduced their target price on shares of Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, July 27th. Finally, Bank of America lifted their price target on shares of Teledyne Technologies from $533.00 to $565.00 in a research note on Thursday, May 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $500.40.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.