Teledyne Technologies Incorporated (NYSE:TDY) Short Interest Update

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 592,600 shares, an increase of 23.7% from the April 30th total of 479,000 shares. Currently, 1.3% of the company's shares are sold short. Based on an average daily trading volume, of 310,500 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Teledyne Technologies by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock worth $2,846,053,000 after purchasing an additional 105,811 shares during the period. Janus Henderson Group PLC raised its position in Teledyne Technologies by 0.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after acquiring an additional 13,607 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Teledyne Technologies by 10.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock valued at $726,369,000 after acquiring an additional 143,062 shares during the period. JPMorgan Chase & Co. lifted its holdings in Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock valued at $503,338,000 after acquiring an additional 64,617 shares during the period. Finally, Norges Bank purchased a new stake in Teledyne Technologies in the 4th quarter worth approximately $306,042,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on TDY shares. Needham & Company LLC lowered their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. TD Securities reiterated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Bank of America increased their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies presently has a consensus rating of "Buy" and a consensus price target of $542.50.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $1.25 during trading hours on Thursday, hitting $499.36. 313,416 shares of the company were exchanged, compared to its average volume of 295,382. The company's 50 day moving average price is $476.10 and its 200-day moving average price is $483.01. The stock has a market capitalization of $23.40 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.14 and a beta of 1.04. Teledyne Technologies has a 52-week low of $380.63 and a 52-week high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $4.55 EPS. As a group, research analysts forecast that Teledyne Technologies will post 21.55 earnings per share for the current year.

About Teledyne Technologies

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.