StockNews.com Upgrades Teledyne Technologies (NYSE:TDY) to “Buy”

StockNews.com upgraded shares of Teledyne Technologies (NYSE:TDYFree Report) from a hold rating to a buy rating in a research report report published on Saturday.

Separately, Needham & Company LLC lowered their price target on Teledyne Technologies from $522.00 to $510.00 and set a buy rating for the company in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of Buy and an average target price of $515.67.

Get Our Latest Research Report on TDY

Teledyne Technologies Trading Down 1.6 %

Shares of NYSE:TDY opened at $427.07 on Friday. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.80 and a beta of 1.03. Teledyne Technologies has a 1-year low of $364.98 and a 1-year high of $448.71. The company has a 50 day moving average price of $429.97 and a 200 day moving average price of $409.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69.

Teledyne Technologies (NYSE:TDYGet Free Report) last released its earnings results on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.40. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $4.94 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that Teledyne Technologies will post 20.51 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 1,071 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $395.00, for a total transaction of $423,045.00. Following the transaction, the director now owns 56,492 shares in the company, valued at approximately $22,314,340. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Teledyne Technologies news, Director Michael T. Smith sold 1,071 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $395.00, for a total transaction of $423,045.00. Following the transaction, the director now owns 56,492 shares of the company’s stock, valued at approximately $22,314,340. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Schack Wesley W. Von sold 1,145 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $410.06, for a total value of $469,518.70. Following the transaction, the director now directly owns 10,822 shares in the company, valued at approximately $4,437,669.32. The disclosure for this sale can be found here. Insiders have sold 75,277 shares of company stock valued at $31,130,219 in the last three months. 2.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Teledyne Technologies by 3.1% in the second quarter. Geode Capital Management LLC now owns 1,037,487 shares of the scientific and technical instruments company’s stock valued at $425,515,000 after buying an additional 31,116 shares in the last quarter. Barclays PLC lifted its position in Teledyne Technologies by 18.0% during the 3rd quarter. Barclays PLC now owns 99,504 shares of the scientific and technical instruments company’s stock worth $40,656,000 after buying an additional 15,169 shares in the last quarter. Truist Financial Corp increased its position in shares of Teledyne Technologies by 3.9% in the second quarter. Truist Financial Corp now owns 17,185 shares of the scientific and technical instruments company’s stock valued at $7,065,000 after acquiring an additional 650 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in Teledyne Technologies by 8.2% during the third quarter. Canandaigua National Bank & Trust Co. now owns 544 shares of the scientific and technical instruments company’s stock worth $222,000 after acquiring an additional 41 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in Teledyne Technologies by 21.5% during the third 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. Institutional investors and hedge funds own 87.57% of the company’s stock.

About Teledyne Technologies

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Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.

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