Teledyne Technologies Inc. (TDY) Sees Strong Trading Volume
Shares of Teledyne Technologies Inc. (NYSE:TDY) saw unusually-strong trading volume on Wednesday . Approximately 200,844 shares were traded during trading, an increase of 51% from the previous session’s volume of 133,291 shares.The stock last traded at $102.51 and had previously closed at $104.44.
A number of equities analysts recently issued reports on TDY shares. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, March 28th. Zacks Investment Research raised shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 7th. CL King lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and set a $107.00 target price on the stock. in a research report on Wednesday, July 6th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Teledyne Technologies in a research report on Monday.
The firm has a 50 day moving average price of $98.93 and a 200-day moving average price of $89.65. The firm has a market cap of $3.54 billion and a PE ratio of 19.16.
Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Thursday, May 5th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. The business earned $530.50 million during the quarter, compared to analyst estimates of $548.94 million. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. Analysts forecast that Teledyne Technologies Inc. will post $5.11 EPS for the current fiscal year.
In related news, Director Schack Wesley W. Von sold 4,000 shares of the firm’s 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 sale, the director now directly owns 15,745 shares of the company’s stock, valued at $1,480,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its stake in Teledyne Technologies by 3.6% in the fourth quarter. New York State Common Retirement Fund now owns 272,470 shares of the company’s stock valued at $24,168,000 after buying an additional 9,567 shares during the period. California State Teachers Retirement System raised its stake in shares of Teledyne Technologies by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 65,469 shares of the company’s stock worth $5,807,000 after buying an additional 1,032 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake 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 during the last quarter. Retirement Systems of Alabama raised its stake 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 during the last quarter. Finally, Whittier Trust Co. raised its stake in shares of 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 last quarter.
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to a range of markets, which include deepwater oil and gas exploration and production, oceanographic research, and air and water quality environmental monitoring. Its products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, and electronic test and measurement equipment.
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