Teledyne Technologies Incorporated (NYSE:TDY) Sees Significant Increase in Short-Term Interest

Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) benefited from strong growth in short-term interest during the month of June. As of June 15, there was short interest totaling 1,000,000 shares, a growth of 28.6% from the total of 777,400 shares as of May 31. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 325,500 shares, the day-to-cover ratio is currently 3.1 days.

Institutional investors and hedge funds have recently changed their stock holdings. Moors & Cabot Inc. acquired a new position in shares of Teledyne Technologies in Q3 worth approximately $25,000. Jackson Grant Investment Advisers Inc. acquired a new stake in Teledyne Technologies in Q1 worth approximately $35,000. Northwestern Mutual Wealth Management Co. increased its stake in Teledyne Technologies by 119.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 114 shares of the scientific and technical instruments company valued at $49,000 after acquiring 62 additional shares last quarter. National Bank of Canada FI acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $63,000. Finally, MUFG Americas Holdings Corp increased 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 valued at $66,000 after acquiring 87 additional shares last quarter. Institutional investors and hedge funds hold 87.61% of the company’s shares.

Shares of Teledyne Technologies traded at $4.52 during Friday’s trading, hitting $379.63. 239,767 shares of the company were traded, against an average volume of 285,146. The company has a debt ratio of 0.49, a current ratio of 1.66 and a quick ratio of 1.09. The company’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 company 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 released its quarterly earnings data on Wednesday, April 27. The scientific and technical instruments company reported earnings per share (EPS) of $4.27 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 company posted revenue of $1.32 billion in the quarter, compared to analysts’ estimates of $1.33 billion. During the same period of the previous year, the company achieved EPS of $3.02. Teledyne Technologies quarterly revenue increased 64.0% compared to the same quarter last year. As a group, equity research analysts expect Teledyne Technologies to post earnings per share of 17.98 for the current year.

TDY has been the subject of several recent research reports. picked up coverage from Teledyne Technologies in a Thursday, March 31 report. They set a “hold” rating for the company. TheStreet downgraded Teledyne Technologies from a “b” rating to a “c+” rating in a Friday, June 10 research report. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned the company a buy rating. 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 an assessment)

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, United Kingdom, Belgium, 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 communication connectivity devices for distributed instrumentation systems and sensor networks.

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