Teledyne Technologies News

Construction gets under way for the 52,000-square-foot Teledyne Oil & Gas Global Research and Development Center following a groundbreaking Tuesday.

A subsidiary of Thousand Oaks-based Teledyne Technologies will expand its research and development by building a center in Florida, according to The Daytona Beach News-Journal. Teledyne Oil & Gas, which has headquarters in Daytona Beach, Fla., already has a plant that employs 335 people there.

Shares of Teledyne Technologies Incorporated traded down 1.76% during mid-day trading on Tuesday, hitting $60.73. Teledyne Technologies Incorporated has a 52 week low of $43.82 and a 52 week high of $66.29. The company has a market cap of $2.259 billion and a P/E ratio of 8.90. Teledyne Technologies Incorporated last announced its earnings results ... (more)

The firm currently has a "hold" rating on the stock. The analysts wrote, "Revenues are targeted for modest 3.7% and 1.1% year-year gains, reflecting the tug and pull of waning defense exposure as civil programs accelerate.

An official with Teledyne Oil & Gas confirmed Thursday the company is expanding and building a new 50,000-square-foot research and development center on North Williamson Boulevard that could produce 100 high-paying jobs.