TD Cowen Cuts Teledyne Technologies (NYSE:TDY) Price Target to $450.00

Teledyne Technologies (NYSE:TDY) had its price objective lowered by TD Cowen from $475.00 to $450.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also weighed in on the stock. StockNews.com upgraded shares of Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Needham & Company LLC lowered their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $474.86.

Teledyne Technologies Stock Down 0.6 %

TDY opened at $374.64 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The firm has a market capitalization of $17.75 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.56 and a beta of 1.02. The company has a fifty day moving average price of $416.42 and a 200-day moving average price of $414.42.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.53 earnings per share. Equities research analysts expect that Teledyne Technologies will post 20.61 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

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

Institutional Trading of Teledyne Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TDY. Barclays PLC lifted its holdings in shares of Teledyne Technologies by 18.0% in the 3rd quarter. Barclays PLC now owns 99,504 shares of the scientific and technical instruments company’s stock valued at $40,656,000 after acquiring an additional 15,169 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at approximately $2,325,000. Grandfield & Dodd LLC boosted its holdings in shares of Teledyne Technologies by 11.2% in the 4th quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock worth $13,788,000 after purchasing an additional 3,111 shares during the period. Metis Global Partners LLC increased its position in shares of Teledyne Technologies by 21.5% during the 3rd quarter. Metis Global Partners LLC now owns 1,715 shares of the scientific and technical instruments company’s stock valued at $701,000 after purchasing an additional 303 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Teledyne Technologies during the 4th quarter valued at $934,000. 91.58% of the stock is currently owned by institutional investors.

About Teledyne Technologies

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.