Teledyne Technologies Incorporated (NYSE:TDY) Receives Average Rating of “Moderate Buy” from Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $470.83.

TDY has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Needham & Company LLC cut their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. TD Cowen lowered their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Bank of America cut Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $490.00 to $400.00 in a report on Friday.

Insider Buying and Selling

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the 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 sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were 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 owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The disclosure for this sale can be found here. 1.88% of the stock is owned by insiders.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TDY. Barclays PLC raised its stake in 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 period. First Citizens Bank & Trust Co. acquired a new position in shares of Teledyne Technologies during the fourth quarter worth $2,325,000. Grandfield & Dodd LLC increased its holdings in Teledyne Technologies by 11.2% in the fourth quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after purchasing an additional 3,111 shares during the period. Metis Global Partners LLC lifted its stake in shares of Teledyne Technologies by 21.5% in the third quarter. Metis Global Partners LLC now owns 1,715 shares of the scientific and technical instruments company’s stock worth $701,000 after acquiring an additional 303 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at $934,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 2.2 %

Shares of TDY opened at $382.78 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $415.43 and a two-hundred day moving average price of $414.26. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 2.40 and a beta of 1.02. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) 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 analyst estimates of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.53 earnings per share. Equities analysts predict that Teledyne Technologies will post 20.61 EPS for the current fiscal year.

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.