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TDY · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Teledyne Technologies Incorporated (TDY) stock moving?
TDY closed at $646.13 on Nov 10, about 4.6% below its Oct 29 high of $679.01 and 9.2% above the Nov 5 low of $589.17. The stock fell from $667 to $592 over Nov 4-5 on volume of 805K, roughly double the late-October average, and no news item in the provided window explains that drop. It has since recovered on falling volume (210K on Nov 10), which suggests the selling has eased. The Nov 9 NGI ground support subcontract with Lockheed Martin is the most concrete new catalyst; it adds defense program revenue but its size is not disclosed. The Varex Imaging merger has shareholder approval and a regulatory filing made Nov 1, so closing is still ahead. Morgan Stanley raised its target to $725 but kept an Equal-Weight rating, which caps enthusiasm. The Q3 2026 results were released Oct 21, but the provided filing text omits the figures. The Vice Chairman retirement announced Sep 28 is a minor management transition. Key reference levels are roughly $590-600 (Nov 5 low zone) below and $665-680 (late-October highs) above.
News behind the analysis
- Teledyne Technologies to Deliver NGI Mechanical Ground Support Equipment to Lockheed MartinTeledyne was selected to provide mechanical ground support equipment for the Next Generation Interceptor program in partnership with Lockheed Martin.
- Lockheed Martin Awards Teledyne Brown Engineering Subcontract To Deliver NGI Mechanical Ground Support EquipmentLockheed Martin awarded Teledyne Brown Engineering a subcontract for mechanical ground support equipment on the NGI program.
- Teledyne Marine Enters Marine Surveying Partnership with NMDC and SITECH Gulf UAETeledyne Marine partnered with National Marine Dredging Company and SITECH Gulf UAE on marine surveying initiatives.
- Teledyne to Participate in the Baird Global Industrial ConferenceTeledyne announced its participation in the upcoming Baird Global Industrial Conference.
- Morgan Stanley Maintains Equal-Weight on Teledyne Technologies, Raises Price Target to $725Morgan Stanley kept its Equal-Weight rating and raised its price target to $725 from $715.
- Morgan Stanley Adjusts Teledyne Technologies Price Target to $725 From $715Morgan Stanley raised its Teledyne price target by $10 to $725, a level about 12% above the Nov 10 close.
- Teledyne Technologies Initiates Acquisition of Varex Imaging CorporationTeledyne filed for regulatory approval to acquire all shares and sole control of Varex Imaging.
- Varex Imaging Shareholders Approve Teledyne Merger AgreementVarex Imaging shareholders officially approved the merger agreement with Teledyne.
- Form 8-K: Third quarter 2026 financial results (Item 2.02)Teledyne furnished a press release on its third quarter 2026 results; the figures are in Exhibit 99.1, which is not included in the provided text.
About Teledyne Technologies Incorporated
Teledyne Technologies, based in Thousand Oaks, California, makes sensors, cameras, instruments and electronics for industrial, defense, space, marine and scientific customers. It stands out for buying many niche technology businesses, the best known being FLIR's infrared cameras, and has roughly $6.5 billion in annual sales.
How it makes money
Teledyne makes most of its money selling hardware and systems through four segments. Digital Imaging is the largest, at roughly half of sales (about $900 million in Q3 2026). It covers infrared and visible-light cameras and detectors, including FLIR products, used in defense, space, unmanned systems and factory automation. Instrumentation (marine, environmental and test-and-measurement gear), Aerospace & Defense Electronics, and Engineered Systems (government engineering work) make up the rest. A large share of sales goes to US and allied governments.
What usually moves TDY
- US and allied defense and space budgets
- Demand for drones and infrared sensing
- Industrial and factory-automation spending
- Acquisitions (for example, the pending Varex deal)
- Quarterly results and changes to guidance