Teledyne

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Teledyne Technologies Inc. NYSE: TDY is an industrial conglomerate primarily based in the United States but with global operations. It was founded in 1960, as Teledyne, Inc., by Henry Singleton and George Kozmetsky.

From 15 August 1996 Teledyne existed as part of the conglomerate Allegheny Teledyne Incorporated - a combination of the former Teledyne, Inc. and the former Allegheny Ludlum Corporation[1]. In November 1999 three separate entities, Teledyne, Water Pik, Inc.[2], and Allegheny Technologies, were spun off as free standing public companies. Allegheny Technologies retained several companies of the former Teledyne, Inc. that fit with Allegheny's core business of steel and exotic metals production.

Teledyne at one time consisted of more than 100 companies with interests as varied as insurance, dental appliances (Teledyne WaterPik), and aeronautics. All three enterprises have subsequently been spun off, the first as Unitrin Corporation, the second as Water Pik, Inc., and the last (the once-independent Ryan Aeronautical), was acquired by Northrop Grumman. At the same time as the Unitrin spinoff, the stock, publicly traded on the New York Stock Exchange, was split five for one, resulting in a lower per-share price and far more shares in circulation.