Teledyne Technologies Inc. (TDY) Shares Gap Up to $97.62
Teledyne Technologies Inc. (NYSE:TDY) gapped up before the market opened on Friday . The stock had previously closed at $96.91, but opened at $97.62. Teledyne Technologies shares last traded at $101.24, with a volume of 82,045 shares traded.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Teledyne Technologies from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd. CL King cut Teledyne Technologies from a “buy” rating to a “neutral” rating and set a $107.00 target price for the company. in a research note on Wednesday. Finally, Needham & Company LLC boosted their target price on Teledyne Technologies from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 28th.
The stock has a market cap of $3.50 billion and a P/E ratio of 18.98. The company has a 50-day moving average of $98.20 and a 200-day moving average of $89.34.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. During the same quarter in the prior year, the company earned $1.20 earnings per share. The firm had revenue of $530.50 million for the quarter, compared to analyst estimates of $548.94 million. The business’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts expect that Teledyne Technologies Inc. will post $5.11 EPS for the current year.
In other news, Director Schack Wesley W. Von sold 4,000 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $94.00, for a total value of $376,000.00. Following the completion of the sale, the director now owns 15,745 shares in the company, valued at $1,480,030. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Other large investors recently bought and sold shares of the company. Whittier Trust Co. raised its stake in Teledyne Technologies by 1.1% in the fourth quarter. Whittier Trust Co. now owns 13,626 shares of the company’s stock worth $1,209,000 after buying an additional 143 shares during the period. TD Asset Management Inc. increased its position in shares of Teledyne Technologies by 10.4% in the fourth quarter. TD Asset Management Inc. now owns 13,760 shares of the company’s stock worth $1,221,000 after buying an additional 1,300 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Teledyne Technologies by 23.0% in the fourth quarter. Advisors Asset Management Inc. now owns 17,195 shares of the company’s stock worth $1,525,000 after buying an additional 3,219 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in shares of Teledyne Technologies by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 22,814 shares of the company’s stock worth $2,024,000 after buying an additional 7,745 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Teledyne Technologies by 1.5% in the fourth quarter. Retirement Systems of Alabama now owns 45,542 shares of the company’s stock worth $4,040,000 after buying an additional 657 shares in the last quarter.
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to markets, which include deepwater oil and gas exploration and production, oceanographic research, air and water quality environmental monitoring, electronics design and development, factory automation and medical imaging.
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