Teledyne Technologies (NYSE:TDY) Stock Price Breaks Below 200 Day Moving Average - Time to Sell?

Key Points

• Teledyne shares fell 4.8% and crossed below their 200-day moving average of $634.41, trading as low as $616.71 before last changing hands near $631.98.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $731.83; recent ratings were mixed, including upgrades and downgrades.
• The company beat quarterly expectations, reporting earnings of $6.72 per share versus $6.17 expected and revenue of $1.68 billion, up 9.4% year over year.

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $634.41 and traded as low as $616.71. Teledyne Technologies shares last traded at $631.9830, with a volume of 433,708 shares.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Teledyne Technologies from $640.00 to $646.00 and gave the stock an "equal weight" rating in a report on Monday, October 26th. Zacks Research cut shares of Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research 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 note on Thursday, October 29th. Stifel Nicolaus raised their price target on shares of Teledyne Technologies from $775.00 to $795.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Finally, Morgan Stanley lifted their price target on Teledyne Technologies from $715.00 to $725.00 and gave the company an "equal weight" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $731.83.

Teledyne Technologies Stock Down 4.8%

The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The firm has a market cap of $29.10 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89. The stock's 50 day moving average is $619.58 and its 200 day moving average is $634.41.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results 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 firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.65 billion. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.57 earnings per share. Analysts forecast that Teledyne Technologies Incorporated will post 25.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Simon Lorne sold 6,449 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director owned 55,783 shares of the company's stock, valued at $37,951,406.22. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Teledyne Technologies in the 2nd quarter valued at $2,751,121,000. Jupiter Topco LLC bought a new stake in Teledyne Technologies in the second quarter worth $1,027,237,000. Bank of America Corp DE acquired a new position in Teledyne Technologies during the second quarter worth $406,938,000. Findlay Park Partners LLP acquired a new position in Teledyne Technologies during the second quarter worth $277,363,000. Finally, Port Capital LLC bought a new position in Teledyne Technologies during the second quarter valued at about $162,900,000. 91.58% of the stock is currently owned by institutional investors.

About Teledyne Technologies

Teledyne Technologies Incorporated NYSE: TDY is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company's businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.

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