Teledyne Technologies Inc. is a provider of sophisticated electronic and communication products, systems engineering solutions and information technology services, and aerospace engines and components. Teledyne Technologies Incorporated has a market cap of $2.34 billion; its shares were traded at around $62.26 with a P/E ratio of 16.5 and P/S ratio of 1.2. Teledyne Technologies Incorporated had an annual average earnings growth of 17.6% over the past 10 years. GuruFocus rated Teledyne Technologies Incorporated the business predictability rank of 3-star.
Prior to purchasing 10,000 shares of TDY on 7/30/2012, Chairman, President and CEO Robert Mehrabian purchased 10,000 shares of the company on 3/15/2012. He owns a total of an estimated 190,107 shares of the company.
Other insiders have been decreasing their positions in the company while its CEO has been adding to his stakes. Director Paul Miller sold 4,000 shares of the company in late February of 2012, while insiders John Kuelbs and Aldo Pichelli also decreased their positions in early February.
Mr. Mehrabian has been the president and CEO at Teledyne Technologies Inc. since 1999. He serves as the chairman, CEO and president of Teledyne Odom Hydrographic Systems Inc. as well as the chairman, president and CEO of Teledyne Microelectronic Technologies. He holds a B.S. and Sc.D. from MIT.
TDY has an average annual growth rate of 9.3% on average per year for the past 10 years. Earnings per share were positive to all of the past 10 years, and have been showing pretty consistent growth. TDY holds about $50 million cash, but owes $311 million in long-term debt and an additional $196 million in other long-term liabilities. In 2011, the company bought back $20 million worth of shares.
Two gurus currently hold positions in TDY. John Keeley owns 389,280 shares as of 03/31/2012, a decrease of 26.24% of from the previous quarter. This position accounts for 0.5% of the $4.94 billion portfolio of Keeley Fund Management. Ken Fisher owns 517,821 shares as of 06/30/2012, a decrease of 38.17% of from the previous quarter. This position accounts for 0.092% of the $34.66 billion portfolio of Fisher Asset Management LLC. Joel Greenblatt sold out his holdings in the quarter that ended on 03/31/2012.