Benzinga | Feb 17, 2021 02:59PM EST

Why Teledyne Technologies Stock Is Trading Higher Today

Teledyne Technologies (NYSE:TDY) shares are trading higher after Cathie Wood's ARK Invest disclosed a stake in the company.

Teledyne Technologies sells technologies for industrial markets. Roughly a fourth of Teledyne's revenue comes from contracts with the United States government. The firm operates in four segments: instrumentation, digital imaging, aerospace and defense electronics, and engineered systems. The instrumentation segment contributes the largest proportion of revenue and provides monitoring instruments primarily for marine and environmental applications.

Teledyne Technologies shares were trading up 4.31% at $406.40 at the time of publication. The stock has a 52-week high of $407.50 and a 52-week low of $195.34.