Teledyne Technologies (NYSE:TDY) Sets New 12-Month High at $269.49

Teledyne Technologies Incorporated (NYSE:TDY) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $269.49 and last traded at $268.98, with a volume of 2287 shares trading hands. The stock had previously closed at $267.65.

A number of analysts have recently issued reports on the company. Berenberg Bank assumed coverage on Teledyne Technologies in a research report on Tuesday, June 11th. They issued a “buy” rating and a $290.00 price objective for the company. Cowen assumed coverage on Teledyne Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $265.00 price objective for the company. Zacks Investment Research raised Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 price objective for the company in a research report on Tuesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $248.00 price objective (up from $240.00) on shares of Teledyne Technologies in a research report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $256.40.

The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 3.73 and a beta of 1.09. The business has a fifty day moving average of $249.22. The company has a quick ratio of 1.00, a current ratio of 1.54 and a debt-to-equity ratio of 0.31.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.10. The business had revenue of $745.20 million during the quarter, compared to analysts’ expectations of $728.30 million. Teledyne Technologies had a return on equity of 14.87% and a net margin of 11.61%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.81 EPS. As a group, research analysts expect that Teledyne Technologies Incorporated will post 9.58 earnings per share for the current fiscal year.

In related news, CFO Sue Main sold 12,000 shares of Teledyne Technologies stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $250.82, for a total transaction of $3,009,840.00. Following the completion of the sale, the chief financial officer now directly owns 48,418 shares of the company’s stock, valued at approximately $12,144,202.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Simon M. Lorne sold 2,184 shares of Teledyne Technologies stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $246.82, for a total value of $539,054.88. Following the sale, the director now directly owns 31,023 shares of the company’s stock, valued at $7,657,096.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,730 shares of company stock valued at $13,920,845. 3.19% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Teledyne Technologies by 0.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,379 shares of the scientific and technical instruments company’s stock valued at $1,512,000 after acquiring an additional 48 shares in the last quarter. Connable Office Inc. raised its holdings in Teledyne Technologies by 2.4% in the 1st quarter. Connable Office Inc. now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $515,000 after acquiring an additional 52 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Teledyne Technologies by 32.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 218 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 54 shares in the last quarter. Cetera Advisors LLC raised its holdings in Teledyne Technologies by 2.5% in the 1st quarter. Cetera Advisors LLC now owns 2,233 shares of the scientific and technical instruments company’s stock valued at $529,000 after acquiring an additional 55 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in Teledyne Technologies by 0.3% in the 1st quarter. MetLife Investment Advisors LLC now owns 22,072 shares of the scientific and technical instruments company’s stock valued at $5,231,000 after acquiring an additional 72 shares in the last quarter. 84.42% of the stock is owned by hedge funds and other institutional investors.

About Teledyne Technologies (NYSE:TDY)

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. 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 deployed in mission critical and harsh environments.

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