Teledyne Technologies (NYSE:TDY) VP Cynthia Belak Sells 4,528 Shares of Company Stock

Key Points

• VP Cynthia Belak sold 4,528 Teledyne shares for about $2.98 million at an average price of $657.45, reducing her ownership by 49.38% to 4,642 shares.
• Teledyne reported quarterly EPS of $6.72, beating the $6.17 analyst consensus, while revenue rose 9.4% year over year to $1.68 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $731.83; shares recently traded at $651.53.

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) VP Cynthia Belak sold 4,528 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $657.45, for a total value of $2,976,933.60. Following the sale, the vice president 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 sale was disclosed in a filing with the SEC, which is available through this link.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $0.41 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. Teledyne Technologies Incorporated has a twelve month low of $483.02 and a twelve 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 business's fifty day moving average price is $620.48 and its 200 day moving average price is $635.15. The company has a market cap of $29.99 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.38 and a beta of 0.89.

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

Institutional Investors Weigh In On Teledyne Technologies

Large investors have recently added to or reduced their stakes in the business. CX Institutional raised its holdings in Teledyne Technologies by 2.8% during the second quarter. CX Institutional now owns 617 shares of the scientific and technical instruments company's stock worth $411,000 after buying an additional 17 shares during the last quarter. Lido Advisors LLC boosted its stake in Teledyne Technologies by 1.1% during the 3rd quarter. Lido Advisors LLC now owns 1,502 shares of the scientific and technical instruments company's stock valued at $912,000 after purchasing an additional 17 shares during the last quarter. Assetmark Inc. boosted its stake in Teledyne Technologies by 10.5% during the 1st quarter. Assetmark Inc. now owns 190 shares of the scientific and technical instruments company's stock valued at $115,000 after purchasing an additional 18 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Teledyne Technologies by 0.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 5,698 shares of the scientific and technical instruments company's stock worth $3,458,000 after purchasing an additional 19 shares in the last quarter. Finally, Parvin Asset Management LLC lifted its holdings in shares of Teledyne Technologies by 12.5% in the first quarter. Parvin Asset Management LLC now owns 180 shares of the scientific and technical instruments company's stock valued at $109,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays raised their price objective on Teledyne Technologies from $640.00 to $646.00 and gave the company an "equal weight" rating in a research report on Monday, October 26th. Needham & Company LLC boosted their price target on Teledyne Technologies from $760.00 to $775.00 and gave the company a "buy" rating in a research note on Friday, October 23rd. Zacks Research cut Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Weiss Ratings upgraded shares of Teledyne Technologies from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 29th. Finally, Stifel Nicolaus raised their target price on Teledyne Technologies from $775.00 to $795.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $731.83.

About Teledyne Technologies

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.

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