Teledyne Technologies Incorporated (NYSE:TDY) Brief Update on Interests

Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) experienced a significant drop in short-term interest during the month of October. As of October 31, there was short interest totaling 780,300 shares, down 20.5% from the total of 982,100 shares as of October 15. Based on an average daily trading volume of 269,000 shares, the short-term interest rate ratio is currently 2.9 days. Approximately 1.7% of the company’s shares are sold short.

Insiders place their bets

Separately, Vice President Cynthia Y. Belak sold 5,046 shares of the company in a transaction dated Tuesday, November 8. The stock was sold at an average price of $412.05, for a total transaction of $2,079,204.30. Following the completion of the transaction, the vice president now owns 4,457 shares of the company, valued at approximately $1,836,506.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Separately, director Michael T. Smith sold 4,000 shares of the company in a transaction dated Thursday, November 10. The stock was sold at an average price of $419.49, for a total transaction of $1,677,960.00. Following the transaction, the administrator now directly owns 56,073 shares of the company, valued at $23,522,062.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Vice President Cynthia Y. Belak sold 5,046 shares of the company in a transaction dated Tuesday, November 8. The shares were sold at an average price of $412.05, for a total value of $2,079,204.30. Following the transaction, the vice president now owns 4,457 shares of the company, valued at $1,836,506.85. The disclosure of this sale can be found here. Insiders hold 2.60% of the shares of the company.

Institutional investors weigh in on Teledyne Technologies

A number of large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Teledyne Technologies by 11.3% during the third quarter. Envestnet Asset Management Inc. now owns 61,464 shares of the scientific and technical instruments company worth $20,742,000 after acquiring an additional 6,251 shares in the last quarter. King Luther Capital Management Corp increased its position in Teledyne Technologies by 4.2% during the third quarter. King Luther Capital Management Corp now owns 482,953 shares of the scientific and technical instruments company worth $162,982,000 after acquiring 19,651 additional shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Teledyne Technologies by 4.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 10,856 shares of the scientific and technical instruments company worth $3,664,000 after acquiring 508 additional shares in the last quarter. Quadrant Capital Group LLC increased its position in Teledyne Technologies by 11.3% during the third quarter. Quadrant Capital Group LLC now owns 325 shares of the scientific and technical instruments company worth $110,000 after acquiring 33 additional shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Teledyne Technologies by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 278,729 shares of the scientific and engineering instruments company worth $94,083,000 after acquiring an additional 27,012 shares in the last quarter. 89.77% of the shares are currently held by institutional investors.

A Wall Street analyst gives his opinion

Several stock analysts have recently released reports on the company. StockNews.com picked up coverage from Teledyne Technologies in a Wednesday, October 12 research note. They have set a “holding” rating on the stock. TheStreet upgraded Teledyne Technologies from a “c+” rating to a “b-” rating in a Friday, August 5 research note. Morgan Stanley lowered its price target on Teledyne Technologies from $470.00 to $445.00 and set an “underweight” rating on the stock in a Tuesday, August 16 research note. Finally, Needham & Company LLC lowered its price target on Teledyne Technologies from $520.00 to $472.00 and set a “buy” rating on the stock in a Thursday, July 28 research note.

Teledyne Technologies down 2.0%

TDY stock opened at $412.99 on Friday. Teledyne Technologies has a 1 year low of $325.00 and a 1 year high of $493.97. The company has a market capitalization of $19.36 billion, a P/E ratio of 27.21, a P/E/G ratio of 3.20 and a beta of 1.10. The company’s 50-day moving average is $367.37 and its 200-day moving average is $383.08. The company has a current ratio of 1.78, a quick ratio of 1.19 and a debt ratio of 0.47.

About Teledyne Technologies

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Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, United Kingdom, Belgium, Netherlands and internationally. 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 communication connectivity devices for distributed instrumentation systems and sensor networks.

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