Teledyne Technologies Incorporated (NYSE:TDY) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 329,347 shares, a decline of 57.9% from the June 15th total of 782,881 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 563,174 shares, the days-to-cover ratio is currently 0.6 days.
TDY has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $140.00 price objective on shares of Teledyne Technologies in a research report on Friday, May 5th. Zacks Investment Research raised Teledyne Technologies from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Thursday, May 11th. Finally, BidaskClub downgraded Teledyne Technologies from a “hold” rating to a “sell” rating in a report on Friday, June 9th.
In related news, Chairman Robert Mehrabian acquired 10,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was acquired at an average cost of $129.41 per share, with a total value of $1,294,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Melanie Susan Cibik sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $146.20, for a total value of $584,800.00. Following the transaction, the vice president now directly owns 26,280 shares of the company’s stock, valued at $3,842,136. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,207 shares of company stock valued at $3,459,722. Corporate insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TDY. Ironwood Investment Management LLC raised its position in shares of Teledyne Technologies by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 2,711 shares of the scientific and technical instruments company’s stock valued at $346,000 after buying an additional 18 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Teledyne Technologies by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 1,188 shares of the scientific and technical instruments company’s stock worth $149,000 after buying an additional 29 shares in the last quarter. Teacher Retirement System of Texas raised its position in Teledyne Technologies by 1.3% in the second quarter. Teacher Retirement System of Texas now owns 2,651 shares of the scientific and technical instruments company’s stock worth $338,000 after buying an additional 35 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Teledyne Technologies by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,069 shares of the scientific and technical instruments company’s stock worth $767,000 after buying an additional 47 shares in the last quarter. Finally, World Asset Management Inc raised its position in Teledyne Technologies by 2.8% in the second quarter. World Asset Management Inc now owns 2,199 shares of the scientific and technical instruments company’s stock worth $281,000 after buying an additional 59 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.
Shares of Teledyne Technologies (NYSE TDY) traded down 0.05% during trading on Friday, reaching $143.94. The company had a trading volume of 172,422 shares. Teledyne Technologies has a 52-week low of $101.90 and a 52-week high of $148.62. The company has a market capitalization of $5.09 billion, a P/E ratio of 26.54 and a beta of 0.98. The firm has a 50-day moving average price of $138.49 and a 200-day moving average price of $131.84.
Teledyne Technologies (NYSE:TDY) last issued its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.25 by $0.49. The company had revenue of $671.10 million during the quarter, compared to analyst estimates of $636.18 million. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The business’s revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 EPS. On average, analysts predict that Teledyne Technologies will post $5.69 EPS for the current fiscal year.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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