Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Up 25.3% in March

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 507,600 shares, a growth of 25.3% from the March 15th total of 405,200 shares. Based on an average daily volume of 278,300 shares, the short-interest ratio is currently 1.8 days. Currently, 1.1% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America upped their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $548.00.

Teledyne Technologies Price Performance

Shares of TDY traded up $1.41 during trading hours on Friday, hitting $462.30. 224,118 shares of the stock were exchanged, compared to its average volume of 259,540. The stock's 50-day moving average price is $486.27 and its two-hundred day moving average price is $478.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $522.50.

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

Insider Activity at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares of the company's stock, valued at $26,691,559.44. The trade was a 6.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was 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 owns 26,529 shares in the company, valued at $13,794,018.84. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 over the last three months. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in Teledyne Technologies by 4.9% during the 3rd quarter. Barclays PLC now owns 102,490 shares of the scientific and technical instruments company's stock worth $44,854,000 after buying an additional 4,765 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Teledyne Technologies by 2.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,837 shares of the scientific and technical instruments company's stock worth $804,000 after purchasing an additional 45 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Teledyne Technologies by 114.4% in the 3rd quarter. Anchor Investment Management LLC now owns 253 shares of the scientific and technical instruments company's stock valued at $111,000 after buying an additional 135 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the third quarter worth about $39,000. Finally, Tidal Investments LLC raised its holdings in Teledyne Technologies by 26.7% in the third quarter. Tidal Investments LLC now owns 5,486 shares of the scientific and technical instruments company's stock valued at $2,401,000 after acquiring an additional 1,157 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Company Profile

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.

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