StockNews.com Lowers Teledyne Technologies (NYSE:TDY) to Hold

StockNews.com cut shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research note published on Thursday.

A number of other equities research analysts have also recently commented on the company. Needham & Company LLC decreased their price objective on Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research note on Thursday. TD Cowen decreased their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $474.86.

Teledyne Technologies Trading Down 0.6 %

Shares of TDY opened at $374.64 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $416.42 and a 200-day simple moving average of $414.42. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The stock has a market cap of $17.75 billion, a PE ratio of 20.26, a PEG ratio of 2.56 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company earned $4.53 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that Teledyne Technologies will post 20.61 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the sale, the director now owns 18,735 shares in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 in the last quarter. Company insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC raised its stake in shares of Teledyne Technologies by 1.2% during the fourth quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock valued at $959,000 after acquiring an additional 25 shares during the last quarter. Weik Capital Management raised its position in Teledyne Technologies by 0.5% during the 4th quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock worth $2,406,000 after purchasing an additional 25 shares during the last quarter. Allworth Financial LP lifted its holdings in Teledyne Technologies by 26.5% during the 3rd quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company’s stock worth $53,000 after buying an additional 27 shares during the period. Great Lakes Advisors LLC grew its position in shares of Teledyne Technologies by 5.5% in the 3rd quarter. Great Lakes Advisors LLC now owns 540 shares of the scientific and technical instruments company’s stock valued at $221,000 after buying an additional 28 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Teledyne Technologies by 0.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 3,669 shares of the scientific and technical instruments company’s stock valued at $1,499,000 after buying an additional 32 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.