Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) EVP Sells $367,091.76 in Stock

Teledyne Technologies Incorporated (NYSE:TDY) EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Melanie Susan Cibik also recently made the following trade(s):

• On Wednesday, January 29th, Melanie Susan Cibik sold 2,699 shares of Teledyne Technologies stock. The shares were sold at an average price of $510.03, for a total value of $1,376,570.97.
• On Monday, January 27th, Melanie Susan Cibik sold 2,538 shares of Teledyne Technologies stock. The stock was sold at an average price of $513.02, for a total value of $1,302,044.76.

Teledyne Technologies Stock Down 1.3 %

TDY opened at $490.55 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The business has a 50 day simple moving average of $490.68 and a 200-day simple moving average of $466.53. The stock has a market capitalization of $22.97 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $5.44 EPS. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Institutional Trading of Teledyne Technologies

Several hedge funds have recently modified their holdings of TDY. Stephens Inc. AR lifted its holdings in shares of Teledyne Technologies by 13.0% in the 3rd quarter. Stephens Inc. AR now owns 669 shares of the scientific and technical instruments company’s stock valued at $293,000 after buying an additional 77 shares during the period. New York State Common Retirement Fund increased its stake in Teledyne Technologies by 7.4% in the 3rd quarter. New York State Common Retirement Fund now owns 46,405 shares of the scientific and technical instruments company’s stock valued at $20,310,000 after purchasing an additional 3,200 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Teledyne Technologies by 9.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 553 shares of the scientific and technical instruments company’s stock valued at $242,000 after purchasing an additional 48 shares in the last quarter. Van ECK Associates Corp increased its stake in Teledyne Technologies by 17.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,402 shares of the scientific and technical instruments company’s stock valued at $660,000 after purchasing an additional 211 shares in the last quarter. Finally, Blue Square Asset Management LLC purchased a new position in Teledyne Technologies in the 3rd quarter valued at approximately $203,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TDY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $538.00.

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.