Short Interest in Teledyne Technologies Incorporated (NYSE:TDY) Expands By 25.3%

Teledyne Technologies Incorporated (NYSE:TDY) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 507,600 shares, a growth of 25.3% from the March 15th total of 405,200 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 278,300 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. Finally, Bank of America boosted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and an average target price of $548.00.

Insider Activity at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. The trade was a 37.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds have recently modified their holdings of TDY. Vanguard Group Inc. lifted its stake in Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock valued at $2,604,922,000 after buying an additional 46,479 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Teledyne Technologies by 0.8% in 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 purchasing an additional 13,607 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Teledyne Technologies by 1.6% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,316,360 shares of the scientific and technical instruments company’s stock valued at $610,962,000 after acquiring an additional 20,165 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $306,042,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Trading Down 1.8 %

NYSE TDY traded down $8.48 on Monday, reaching $453.71. The company had a trading volume of 327,464 shares, compared to its average volume of 259,812. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $522.50. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 3.14 and a beta of 1.03. The stock’s 50 day moving average is $486.27 and its 200-day moving average is $478.54.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company posted $5.44 EPS. Equities analysts predict 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.