Insider Selling: Teledyne Technologies Incorporated (NYSE:TDY) EVP Sells 706 Shares of Stock

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following 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 filing with the Securities & Exchange Commission, which is available 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 stock was 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 Performance

Shares of NYSE:TDY traded down $8.23 during trading on Friday, hitting $483.04. The stock had a trading volume of 379,938 shares, compared to its average volume of 259,424. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $490.91 and a two-hundred day simple moving average of $467.33.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TDY. Needham & Company LLC restated a "buy" rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America upgraded Teledyne Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $538.00.

Institutional Inflows and Outflows

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

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.