CL King Downgrades Teledyne Technologies Incorporated to Neutral

Brokerage firm CL King Downgrades its rating on Teledyne Technologies Incorporated(NYSE:TDY). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by CL King was issued on Jul 6, 2016.

Teledyne Technologies Incorporated (TDY) made into the market gainers list on Mondays trading session with the shares advancing 0.78% or 0.79 points. Due to strong positive momentum, the stock ended at $102.3, which is also near the day’s high of $102.9. The stock began the session at $102.33 and the volume stood at 1,72,112 shares. The 52-week high of the shares is $111.81 and the 52 week low is $73.655. The company has a current market capitalization of $3,529 M and it has 3,44,96,583 shares in outstanding.

Teledyne Technologies Incorporated(TDY) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $530.50M. Analysts had an estimated revenue of $548.94M. Earnings per share were $1.10. Analysts had estimated an EPS of $1.08.

Several Insider Transactions has been reported to the SEC. On May 16, 2016, Schack Wesley W Von (director) sold 4,000 shares at $94.00 per share price.Also, On Mar 8, 2016, Michael T Smith (director) sold 5,323 shares at $90.00 per share price.On Nov 23, 2015, Paul David Miller (director) sold 4,000 shares at $91.93 per share price, according to the Form-4 filing with the securities and exchange commission.

Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to markets which include deepwater oil and gas exploration and production oceanographic research air and water quality environmental monitoring electronics design and development factory automation and medical imaging. Its 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 Company operates under the following segments: Instrumentation Digital Imaging Aerospace and Defense Electronics and Engineered Systems.

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