Could Teledyne Technologies Incorporated (TDY) Go Down After Reaching 52-Week High?

September 17, 2017 - By Richard Conner

Investors sentiment decreased to 1.33 in Q4 2016. Its down 0.01, from 1.34 in 2016Q3. It worsened, as 8 investors sold Teledyne Technologies Incorporated shares while 72 reduced holdings. 33 funds opened positions while 73 raised stakes. 29.53 million shares or 1.93% more from 28.97 million shares in 2016Q3 were reported.
19,087 are owned by Regions Financial. Panagora Asset Management accumulated 1,065 shares. The Maryland-based Brown Advisory has invested 0% in Teledyne Technologies Incorporated (NYSE:TDY). Moreover, Price T Rowe Associates Inc Md has 0.04% invested in Teledyne Technologies Incorporated (NYSE:TDY) for 1.63 million shares. Blackrock Institutional Trust Com Na invested in 1.08 million shares. Jpmorgan Chase has invested 0% in Teledyne Technologies Incorporated (NYSE:TDY). South Dakota Invest Council has invested 0.02% in Teledyne Technologies Incorporated (NYSE:TDY). Ci Global Investments accumulated 862,600 shares. Cardinal Cap Mngmt Lc Ct has 2.26% invested in Teledyne Technologies Incorporated (NYSE:TDY). 15,845 are held by First Limited Partnership. Comerica Bank reported 33,128 shares. Hirtle Callaghan And Limited Liability owns 1.22% invested in Teledyne Technologies Incorporated (NYSE:TDY) for 6,973 shares. Geode Cap Lc has 0.01% invested in Teledyne Technologies Incorporated (NYSE:TDY). First Midwest Commercial Bank Division holds 0.06% in Teledyne Technologies Incorporated (NYSE:TDY) or 4,345 shares. Retirement Of Alabama has 0.03% invested in Teledyne Technologies Incorporated (NYSE:TDY).

Since May 25, 2017, it had 1 insider purchase, and 4 sales for $698,458 activity. $1.29M worth of Teledyne Technologies Incorporated (NYSE:TDY) was bought by MEHRABIAN ROBERT on Thursday, June 8. On Wednesday, May 31 VON SCHACK WESLEY W sold $524,000 worth of Teledyne Technologies Incorporated (NYSE:TDY) or 4,000 shares. Another trade for 3,617 shares valued at $467,652 was made by LORNE SIMON M on Thursday, May 25. MILLER PAUL DAVID sold 4,590 shares worth $596,700.

The stock of Teledyne Technologies Incorporated (NYSE:TDY) hit a new 52-week high and has $162.94 target or 5.00 % above today’s $155.18 share price. The 6 months bullish chart indicates low risk for the $5.48B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $162.94 price target is reached, the company will be worth $274.00 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.

The stock increased 0.31% or $0.48 on September 15, reaching $155.18. About 267,922 shares traded or 72.90% up from the average. Teledyne Technologies Incorporated (NYSE:TDY) has risen 37.51% since September 17, 2016 and is uptrending. It has outperformed by 20.81% the S&P500.

Wall Street await Teledyne Technologies Incorporated (NYSE:TDY) to release earnings on November, 2. Analysts forecast earnings per share of $1.62, up exactly $0.10 or 6.58 % from 2014’s $1.52 EPS. The expected TDY’s profit could reach $57.21M giving the stock 23.95 P/E in the case that $1.62 earnings per share is reported. After posting $1.74 EPS for the previous quarter, Teledyne Technologies Incorporated’s analysts now forecast -6.90 % negative EPS growth.

Teledyne Technologies Incorporated (NYSE:TDY) Ratings Coverage

Among 3 analysts covering Teledyne Tech (NYSE:TDY), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Teledyne Tech had 8 analyst reports since October 6, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, June 6 by Jefferies. Jefferies maintained the shares of TDY in report on Friday, July 7 with “Hold” rating. The firm earned “Hold” rating on Tuesday, September 5 by Jefferies. The rating was downgraded by CL King on Wednesday, July 6 to “Neutral”. Jefferies maintained the shares of TDY in report on Friday, July 14 with “Hold” rating. On Wednesday, July 5 the stock rating was upgraded by Needham to “Buy”. On Thursday, August 3 the stock rating was maintained by Jefferies with “Hold”. On Tuesday, October 6 the stock rating was downgraded by Needham to “Hold”.

Another recent and important Teledyne Technologies Incorporated (NYSE:TDY) news was published by Nasdaq.com which published an article titled: “Teledyne Technologies Inc (TDY) Chairman, Pres. & CEO Robert Mehrabian Bought …” on June 09, 2017.

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The company has market cap of $5.48 billion. The Company’s divisions include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. It has a 28.57 P/E ratio. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.

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