Short Interest in Teledyne Technologies Incorporated (NYSE:TDY) Decreases By 5.3%

Teledyne Technologies Incorporated (NYSE:TDY) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 466,300 shares, a decline of 5.3% from the October 31st total of 492,500 shares. Based on an average trading volume of 228,900 shares, the short-interest ratio is presently 2.0 days. Approximately 1.3% of the company’s shares are short sold.

Shares of TDY opened at $340.36 on Tuesday. The stock’s 50-day moving average is $335.94 and its two-hundred day moving average is $297.86. The stock has a market cap of $12.54 billion, a PE ratio of 38.33, a P/E/G ratio of 4.38 and a beta of 1.09. Teledyne Technologies has a 12 month low of $189.35 and a 12 month high of $351.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.00.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $2.84 EPS for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.31. Teledyne Technologies had a return on equity of 15.52% and a net margin of 12.27%. The company had revenue of $802.20 million for the quarter, compared to analysts’ expectations of $786.55 million. During the same quarter in the previous year, the firm posted $2.43 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Teledyne Technologies will post 10.42 earnings per share for the current year.

In other Teledyne Technologies news, CFO Sue Main sold 12,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $318.22, for a total transaction of $3,818,640.00. Following the completion of the sale, the chief financial officer now owns 48,418 shares of the company’s stock, valued at $15,407,575.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Stephen Finis Blackwood sold 2,500 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $349.29, for a total value of $873,225.00. Following the sale, the vice president now directly owns 11,754 shares of the company’s stock, valued at approximately $4,105,554.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,712 shares of company stock valued at $12,443,774. 3.19% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Teledyne Technologies by 7.5% in the 2nd quarter. BlackRock Inc. now owns 4,024,326 shares of the scientific and technical instruments company’s stock valued at $1,102,140,000 after purchasing an additional 281,116 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Teledyne Technologies by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,238,899 shares of the scientific and technical instruments company’s stock valued at $887,037,000 after buying an additional 47,526 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Teledyne Technologies by 0.9% during the second quarter. Janus Henderson Group PLC now owns 2,186,982 shares of the scientific and technical instruments company’s stock worth $598,949,000 after buying an additional 19,732 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Teledyne Technologies by 0.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,309,468 shares of the scientific and technical instruments company’s stock worth $358,624,000 after buying an additional 4,907 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Teledyne Technologies by 8.7% during the second quarter. AQR Capital Management LLC now owns 734,943 shares of the scientific and technical instruments company’s stock worth $197,259,000 after buying an additional 58,582 shares in the last quarter. 84.77% of the stock is owned by hedge funds and other institutional investors.

TDY has been the topic of a number of recent research reports. Cowen set a $375.00 price objective on Teledyne Technologies and gave the stock a “buy” rating in a research note on Friday, September 27th. ValuEngine cut Teledyne Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $312.50.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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