The stock of Teledyne Technologies Incorporated (NYSE:TDY) hit a new 52-week high and has $128.33 target or 3.00% above today’s $124.59 share price. The 9 months bullish chart indicates low risk for the $4.35 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $128.33 price target is reached, the company will be worth $130.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 137,780 shares traded hands. Teledyne Technologies Incorporated (NYSE:TDY) has risen 31.88% since April 26, 2016 and is uptrending. It has outperformed by 26.62% the S&P500.
Analysts await Teledyne Technologies Incorporated (NYSE:TDY) to report earnings on February, 2. They expect $1.37 earnings per share, down 2.84% or $0.04 from last year’s $1.41 per share. TDY’s profit will be $47.83M for 22.74 P/E if the $1.37 EPS becomes a reality. After $1.52 actual earnings per share reported by Teledyne Technologies Incorporated for the previous quarter, Wall Street now forecasts -9.87% negative EPS growth.
Teledyne Technologies Incorporated (NYSE:TDY) Ratings Coverage
Out of 2 analysts covering Teledyne Tech (NYSE:TDY), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Teledyne Tech has been the topic of 2 analyst reports since October 6, 2015 according to StockzIntelligence Inc. As per Tuesday, October 6, the company rating was downgraded by Needham. On Wednesday, July 6 the stock rating was downgraded by CL King to “Neutral”.
According to Zacks Investment Research, “Teledyne Technologies Inc. is a leading provider of sophisticated electronic and communication products, systems engineering solutions and information technology services, and aerospace engines and components. The company customers include aerospace prime contractors, general aviation companies, government agencies and major communications and other commercial companies.”
Insitutional Activity: The institutional sentiment increased to 1.34 in 2016 Q2. Its up 0.11, from 1.23 in 2016Q1. The ratio increased, as 14 funds sold all Teledyne Technologies Incorporated shares owned while 59 reduced positions. 17 funds bought stakes while 73 increased positions. They now own 30.12 million shares or 5.16% less from 31.76 million shares in 2016Q1.
Blackrock Institutional Trust Na has invested 0.02% of its portfolio in Teledyne Technologies Incorporated (NYSE:TDY). The Colorado-based Janus Capital Mgmt Ltd Llc has invested 0.2% in Teledyne Technologies Incorporated (NYSE:TDY). Springbok Capital Limited Liability Co accumulated 0% or 106 shares. Louisiana State Employees Retirement System accumulated 9,200 shares or 0.05% of the stock. California State Teachers Retirement System has 0.02% invested in the company for 71,862 shares. Citigroup last reported 0% of its portfolio in the stock. State Common Retirement Fund holds 276,115 shares or 0.04% of its portfolio. Liberty Mutual Group Asset Mngmt has invested 0.05% of its portfolio in Teledyne Technologies Incorporated (NYSE:TDY). Tiaa Cref Mgmt Limited Co accumulated 108,985 shares or 0.01% of the stock. Ubs Asset Mgmt Americas holds 24,338 shares or 0% of its portfolio. Cim Investment Mangement holds 2,858 shares or 0.12% of its portfolio. Weik Investment Service accumulated 0.33% or 5,650 shares. Blackrock Fund Advsrs holds 0.04% of its portfolio in Teledyne Technologies Incorporated (NYSE:TDY) for 1.84M shares. Moreover, Federated Pa has 0.01% invested in Teledyne Technologies Incorporated (NYSE:TDY) for 19,443 shares. Glenmede Trust Commerce Na holds 149 shares or 0% of its portfolio.
Insider Transactions: Since August 8, 2016, the stock had 0 insider buys, and 20 insider sales for $20.37 million net activity. Cibik Melanie Susan sold $466,381 worth of Teledyne Technologies Incorporated (NYSE:TDY) on Friday, November 11. PICHELLI ALDO sold $155,290 worth of stock. $314,805 worth of shares were sold by Bobb George C III on Tuesday, November 15. Another trade for 6,660 shares valued at $709,404 was sold by MAIN SUE. On Friday, September 2 the insider DAHLBERG KENNETH C sold $596,576. Belak Cynthia Y sold $474,918 worth of stock or 4,046 shares. MEHRABIAN ROBERT sold $4.05 million worth of stock or 35,000 shares.
TDY Company Profile
Teledyne Technologies Incorporated, incorporated on August 23, 1999, provides enabling technologies for industrial markets. The Firm caters to a range of markets, which include deepwater gas and oil exploration and production, oceanographic research, air and water quality environmental monitoring, electronics design and development, factory automation and medical imaging. The Company’s products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, electronic test and measurement equipment, digital imaging sensors and cameras, aircraft information management systems, and defense electronic and satellite communication subsystems. It also supplies engineered systems for defense, space, environmental and energy applications. The Firm operates through four divisions: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems.
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