Michael T. Smith Sells 5,706 Shares of Teledyne Technologies Inc. (TDY) Stock
Teledyne Technologies Inc. (NYSE:TDY) Director Michael T. Smith sold 5,706 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $119.78, for a total transaction of $683,464.68. Following the completion of the sale, the director now directly owns 32,061 shares of the company’s stock, valued at $3,840,266.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Teledyne Technologies Inc. (NYSE:TDY) opened at 120.39 on Thursday. Teledyne Technologies Inc. has a 12-month low of $73.66 and a 12-month high of $122.04. The firm’s 50-day moving average price is $107.68 and its 200 day moving average price is $103.31. The firm has a market cap of $4.21 billion, a P/E ratio of 22.05 and a beta of 0.91.
Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Thursday, November 3rd. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. Teledyne Technologies had a return on equity of 13.03% and a net margin of 8.74%. The firm earned $526.80 million during the quarter, compared to analyst estimates of $553.02 million. During the same period in the prior year, the company posted $1.34 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, equities analysts expect that Teledyne Technologies Inc. will post $5.24 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC raised its stake in shares of Teledyne Technologies by 12.7% in the second quarter. Janus Capital Management LLC now owns 2,390,540 shares of the company’s stock worth $236,783,000 after buying an additional 269,001 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Teledyne Technologies by 37.5% in the third quarter. Bank of New York Mellon Corp now owns 674,603 shares of the company’s stock worth $72,810,000 after buying an additional 183,994 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Teledyne Technologies during the second quarter worth $15,497,000. BlackRock Fund Advisors raised its stake in shares of Teledyne Technologies by 6.5% in the third quarter. BlackRock Fund Advisors now owns 1,956,883 shares of the company’s stock worth $211,206,000 after buying an additional 118,863 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Teledyne Technologies during the second quarter worth $7,439,000. Hedge funds and other institutional investors own 88.86% of the company’s stock.
A number of brokerages have weighed in on TDY. Zacks Investment Research downgraded shares of Teledyne Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Jefferies Group upped their price target on shares of Teledyne Technologies from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, August 5th.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to a range of markets, which include deepwater oil and gas exploration and production, oceanographic research, and air and water quality environmental monitoring. Its products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, and electronic test and measurement equipment.
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