Teledyne Technologies Incorporated (NYSE:TDY) Sees Significant Increase in Short Interest – MarketBeat

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Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,000,000 shares, a growth of 28.6% from the May 31st total of 777,400 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 325,500 shares, the days-to-cover ratio is presently 3.1 days.
Institutional investors and hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. bought a new stake in Teledyne Technologies in the 1st quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. lifted its stake in Teledyne Technologies by 119.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 114 shares of the scientific and technical instruments company’s stock valued at $49,000 after acquiring an additional 62 shares in the last quarter. National Bank of Canada FI bought a new stake in Teledyne Technologies in the 4th quarter valued at approximately $63,000. Finally, MUFG Americas Holdings Corp lifted its stake in Teledyne Technologies by 133.8% in the 4th quarter. MUFG Americas Holdings Corp now owns 152 shares of the scientific and technical instruments company’s stock valued at $66,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.
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Shares of Teledyne Technologies stock traded up $4.52 during trading on Friday, hitting $379.63. 239,767 shares of the company were exchanged, compared to its average volume of 285,146. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.66 and a quick ratio of 1.09. The firm’s fifty day moving average price is $395.72 and its 200 day moving average price is $423.39. Teledyne Technologies has a 1-year low of $344.66 and a 1-year high of $493.97. The firm has a market capitalization of $17.78 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 2.09 and a beta of 1.10.
Teledyne Technologies (NYSE:TDY – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The scientific and technical instruments company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.18. Teledyne Technologies had a return on equity of 10.99% and a net margin of 11.17%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm earned $3.02 EPS. Teledyne Technologies’s quarterly revenue was up 64.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Teledyne Technologies will post 17.98 earnings per share for the current year.
TDY has been the subject of several recent research reports. StockNews.com assumed coverage on Teledyne Technologies in a report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet lowered Teledyne Technologies from a “b” rating to a “c+” rating in a research report on Friday, June 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $505.00.
Teledyne Technologies Company Profile (Get Rating)
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the 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 communications connectivity devices for distributed instrumentation systems and sensor networks.
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