Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Up 5.4% in January

Teledyne Technologies Incorporated (NYSE:TDY) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 626,600 shares, a growth of 5.4% from the January 15th total of 594,500 shares. Based on an average trading volume of 294,300 shares, the short-interest ratio is presently 2.1 days. Currently, 1.7% of the company’s stock are sold short.

In related news, VP Stephen Finis Blackwood sold 2,500 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $349.29, for a total transaction of $873,225.00. Following the completion of the sale, the vice president now owns 11,754 shares of the company’s stock, valued at $4,105,554.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.19% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TDY. State Street Corp increased its stake in shares of Teledyne Technologies by 25.6% in the fourth quarter. State Street Corp now owns 1,390,267 shares of the scientific and technical instruments company’s stock worth $481,783,000 after acquiring an additional 283,505 shares during the period. BlackRock Inc. increased its stake in shares of Teledyne Technologies by 7.5% in the second quarter. BlackRock Inc. now owns 4,024,326 shares of the scientific and technical instruments company’s stock worth $1,102,140,000 after acquiring an additional 281,116 shares during the period. Congress Asset Management Co. MA acquired a new stake in shares of Teledyne Technologies in the third quarter worth $88,581,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Teledyne Technologies by 951.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,628 shares of the scientific and technical instruments company’s stock worth $47,694,000 after acquiring an additional 124,535 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Teledyne Technologies by 1,680.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 130,156 shares of the scientific and technical instruments company’s stock worth $45,105,000 after acquiring an additional 122,844 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

A number of research analysts have issued reports on TDY shares. ValuEngine upgraded shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Cowen upped their price target on shares of Teledyne Technologies from $375.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $355.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $393.00 price target on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Teledyne Technologies has a consensus rating of “Buy” and a consensus target price of $374.50.

Shares of Teledyne Technologies stock opened at $389.48 on Friday. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 36.33 and a beta of 1.03. Teledyne Technologies has a 12-month low of $224.84 and a 12-month high of $398.99. The firm’s 50 day simple moving average is $369.60 and its two-hundred day simple moving average is $334.89. The company has a current ratio of 1.72, a quick ratio of 1.21 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $3.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.76 by $0.30. The firm had revenue of $834.20 million for the quarter, compared to analyst estimates of $826.78 million. Teledyne Technologies had a net margin of 12.72% and a return on equity of 15.67%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. On average, sell-side analysts predict that Teledyne Technologies will post 11.3 EPS for the current fiscal year.

About Teledyne Technologies

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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