Teledyne Technologies (NYSE:TDY) Stock: Insider Cynthia Belak Sells 4,528 Shares

Teledyne Technologies Incorporated (NYSE:TDY) VP Cynthia Belak sold 4,528 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $657.45, for a total value of $2,976,933.60. Following the completion of the transaction, the vice president directly owned 4,642 shares of the company’s stock, valued at approximately $3,051,882.90. This represents a 49.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $0.41 during trading on Thursday, reaching $651.53. The company’s stock had a trading volume of 20,529 shares, compared to its average volume of 344,920. The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.89. Teledyne Technologies Incorporated has a 12 month low of $483.02 and a 12 month high of $697.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 2.31. The firm has a 50 day moving average of $620.48 and a 200-day moving average of $635.15.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 EPS for the quarter, topping the consensus estimate of $6.17 by $0.55. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.57 earnings per share. Research analysts expect that Teledyne Technologies Incorporated will post 25.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TDY shares. Zacks Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Morgan Stanley lifted their price target on shares of Teledyne Technologies from $715.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Barclays raised their target price on Teledyne Technologies from $640.00 to $646.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. Finally, Needham & Company LLC upped their price target on Teledyne Technologies from $760.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $731.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Vermont purchased a new position in Teledyne Technologies during the second quarter worth $28,000. Allied Private Wealth LLC purchased a new stake in Teledyne Technologies in the second quarter worth about $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Teledyne Technologies during the 1st quarter worth $27,000. Elevation Wealth Partners LLC lifted its position in Teledyne Technologies by 1,025.0% during the third quarter. Elevation Wealth Partners LLC now owns 45 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 41 shares during the last quarter. Finally, Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $28,000. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection. The company’s businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.