According to Zacks, “Teledyne Technologies Inc. is a leading provider of sophisticated electronic and communication products, systems engineering solutions and information technology services, and aerospace engines and components. The company customers include aerospace prime contractors, general aviation companies, government agencies and major communications and other commercial companies. “
TDY has been the topic of a number of other reports. CL King lowered shares of Teledyne Technologies from a buy rating to a neutral rating and set a $107.00 price objective on the stock. in a research note on Wednesday, July 6th. Jefferies Group upped their price objective on shares of Teledyne Technologies from $90.00 to $105.00 and gave the company a hold rating in a research note on Friday, August 5th.
Shares of Teledyne Technologies (NYSE:TDY) opened at 102.63 on Thursday. Teledyne Technologies has a 52 week low of $73.66 and a 52 week high of $110.61. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.28 and a beta of 0.94. The firm has a 50-day moving average of $107.07 and a 200 day moving average of $100.01.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.08. Teledyne Technologies had a net margin of 8.46% and a return on equity of 13.03%. The company had revenue of $534.90 million for the quarter, compared to analyst estimates of $546.57 million. During the same period in the prior year, the firm posted $1.34 EPS. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts predict that Teledyne Technologies will post $5.16 earnings per share for the current fiscal year.
In related news, SVP Jason Vanwees sold 3,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $105.44, for a total transaction of $316,320.00. Following the transaction, the senior vice president now directly owns 31,017 shares of the company’s stock, valued at $3,270,432.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 4,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $105.55, for a total transaction of $422,200.00. Following the transaction, the director now directly owns 10,639 shares in the company, valued at $1,122,946.45. The disclosure for this sale can be found here. Corporate insiders own 3.93% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Capital Management LLC raised its position in shares of Teledyne Technologies by 12.7% in the second quarter. Janus Capital Management LLC now owns 2,390,540 shares of the company’s stock valued at $236,783,000 after buying an additional 269,001 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Teledyne Technologies by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,359,411 shares of the company’s stock valued at $233,700,000 after buying an additional 59,680 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Teledyne Technologies by 0.5% in the first quarter. Wellington Management Group LLP now owns 2,018,006 shares of the company’s stock valued at $177,868,000 after buying an additional 10,200 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Teledyne Technologies by 2.1% in the second quarter. BlackRock Fund Advisors now owns 1,838,020 shares of the company’s stock valued at $182,056,000 after buying an additional 37,568 shares in the last quarter. Finally, State Street Corp raised its position in shares of Teledyne Technologies by 0.6% in the first quarter. State Street Corp now owns 1,190,777 shares of the company’s stock valued at $104,951,000 after buying an additional 6,887 shares in the last quarter. 87.85% of the stock is currently owned by institutional investors and hedge funds.
About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to a range of markets, which include deepwater oil and gas exploration and production, oceanographic research, and air and water quality environmental monitoring. Its products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, and electronic test and measurement equipment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Teledyne Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teledyne Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.