Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Update

Teledyne Technologies Incorporated (NYSE:TDY) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 466,300 shares, a drop of 5.3% from the September 30th total of 492,500 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 228,900 shares, the days-to-cover ratio is presently 2.0 days.

TDY traded up $0.04 on Monday, hitting $344.51. 10,452 shares of the company’s stock traded hands, compared to its average volume of 246,976. The company’s 50 day simple moving average is $327.17 and its 200-day simple moving average is $289.55. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 38.77, a P/E/G ratio of 4.40 and a beta of 1.09. Teledyne Technologies has a one year low of $189.35 and a one year high of $348.59. The company has a current ratio of 1.48, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.31. Teledyne Technologies had a return on equity of 15.52% and a net margin of 12.27%. The business had revenue of $802.20 million for the quarter, compared to the consensus estimate of $786.55 million. During the same quarter in the previous year, the company posted $2.43 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Teledyne Technologies will post 10.4 EPS for the current fiscal year.

Several analysts recently issued reports on the company. Cowen set a $375.00 target price on Teledyne Technologies and gave the company a “buy” rating in a research note on Friday, September 27th. ValuEngine downgraded Teledyne Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC lifted their target price on Teledyne Technologies from $275.00 to $328.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $312.50.

In related news, Director Schack Wesley W. Von sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $319.24, for a total transaction of $1,276,960.00. Following the sale, the director now owns 14,366 shares of the company’s stock, valued at approximately $4,586,201.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jason Vanwees sold 7,000 shares of Teledyne Technologies stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $328.27, for a total value of $2,297,890.00. Following the sale, the executive vice president now directly owns 35,349 shares in the company, valued at approximately $11,604,016.23. The disclosure for this sale can be found here. Insiders sold 30,212 shares of company stock worth $9,836,899 in the last ninety days. Corporate insiders own 3.19% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Squar Milner Financial Services LLC bought a new stake in Teledyne Technologies in the 3rd quarter worth approximately $26,000. Valeo Financial Advisors LLC bought a new stake in Teledyne Technologies in the 3rd quarter worth approximately $32,000. Berman Capital Advisors LLC increased its stake in Teledyne Technologies by 85.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 139 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 64 shares during the last quarter. C M Bidwell & Associates Ltd. increased its stake in Teledyne Technologies by 217.0% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 168 shares of the scientific and technical instruments company’s stock worth $46,000 after acquiring an additional 115 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in Teledyne Technologies by 112.5% in the 2nd quarter. Advisory Services Network LLC now owns 187 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 99 shares during the last quarter. 85.40% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Company Profile

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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