Short Interest in Teledyne Technologies Incorporated (NYSE:TDY) Drops By 16.1% – MarketBeat
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Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 982,100 shares, a drop of 16.1% from the September 30th total of 1,170,000 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 252,800 shares, the days-to-cover ratio is currently 3.9 days.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on TDY shares. TheStreet raised Teledyne Technologies from a “c+” rating to a “b-” rating in a research note on Friday, August 5th. Needham & Company LLC cut their target price on Teledyne Technologies from $520.00 to $472.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. StockNews.com started coverage on Teledyne Technologies in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley lowered their price target on Teledyne Technologies from $470.00 to $445.00 and set an “underweight” rating for the company in a research report on Tuesday, August 16th.
Teledyne Technologies Trading Up 4.0 %
Shares of TDY traded up $15.21 during midday trading on Friday, hitting $395.14. 410,422 shares of the stock were exchanged, compared to its average volume of 300,146. Teledyne Technologies has a 52-week low of $325.00 and a 52-week high of $493.97. The stock has a fifty day simple moving average of $362.53 and a 200 day simple moving average of $388.32. The firm has a market cap of $18.52 billion, a P/E ratio of 26.03, a P/E/G ratio of 2.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.08 and a current ratio of 1.78.
Teledyne Technologies (NYSE:TDY – Get Rating) last released its earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $4.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.38 by $0.05. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a return on equity of 10.96% and a net margin of 13.37%. Teledyne Technologies’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $4.61 earnings per share. On average, research analysts anticipate that Teledyne Technologies will post 17.75 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in Teledyne Technologies by 7.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 381 shares of the scientific and technical instruments company’s stock valued at $129,000 after purchasing an additional 27 shares during the period. GHP Investment Advisors Inc. boosted its holdings in Teledyne Technologies by 1.9% in the third quarter. GHP Investment Advisors Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $7,751,000 after purchasing an additional 420 shares during the period. Securian Asset Management Inc. boosted its holdings in Teledyne Technologies by 2.6% in the third quarter. Securian Asset Management Inc. now owns 3,957 shares of the scientific and technical instruments company’s stock valued at $1,335,000 after purchasing an additional 100 shares during the period. Comerica Bank boosted its holdings in Teledyne Technologies by 26.4% in the third quarter. Comerica Bank now owns 35,688 shares of the scientific and technical instruments company’s stock valued at $12,746,000 after purchasing an additional 7,445 shares during the period. Finally, Covea Finance acquired a new stake in Teledyne Technologies in the third quarter valued at $25,130,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.
Teledyne Technologies Company Profile
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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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