Short Interest in Teledyne Technologies Incorporated (NYSE:TDY) Decreases By 24.4%

Teledyne Technologies Incorporated (NYSE:TDY) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 464,200 shares, a drop of 24.4% from the September 15th total of 614,300 shares. Based on an average daily volume of 226,400 shares, the short-interest ratio is presently 2.1 days. Currently, 1.0% of the company’s shares are short sold.

Institutional Trading of Teledyne Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Teledyne Technologies by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 132,361 shares of the scientific and technical instruments company’s stock valued at $59,071,000 after purchasing an additional 34,371 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Teledyne Technologies by 46.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company’s stock worth $1,786,000 after acquiring an additional 1,315 shares during the last quarter. Clearbridge Investments LLC lifted its position in Teledyne Technologies by 11.2% in the 1st quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock valued at $114,644,000 after acquiring an additional 26,793 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Teledyne Technologies by 3.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock valued at $21,602,000 after purchasing an additional 1,665 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Teledyne Technologies by 49.8% during the 1st quarter. SG Americas Securities LLC now owns 13,349 shares of the scientific and technical instruments company’s stock worth $5,731,000 after purchasing an additional 4,440 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TDY shares. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Vertical Research assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $450.50.

Teledyne Technologies Trading Down 1.0 %

Shares of Teledyne Technologies stock traded down $4.73 on Tuesday, reaching $449.11. 184,672 shares of the company’s stock were exchanged, compared to its average volume of 238,530. The company has a market capitalization of $21.28 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.13 and a beta of 1.01. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $458.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The firm’s 50-day moving average is $427.77 and its two-hundred day moving average is $408.23.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $4.67 earnings per share. Teledyne Technologies’s revenue was down 3.8% on a year-over-year basis. Sell-side analysts predict that Teledyne Technologies will post 19.43 EPS for the current fiscal year.

Teledyne Technologies Company Profile

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.