Teledyne Technologies (NYSE:TDY) Price Target Cut to $455.00

Teledyne Technologies (NYSE:TDY) had its target price dropped by investment analysts at Needham & Company LLC from $510.00 to $455.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price indicates a potential upside of 25.52% from the stock’s previous close.

Separately, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and a consensus target price of $506.50.

Teledyne Technologies Stock Down 10.9 %

Teledyne Technologies stock opened at $362.50 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a market cap of $17.18 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The stock’s 50 day moving average price is $418.66 and its 200 day moving average price is $414.90.

Teledyne Technologies (NYSE:TDY) last posted its quarterly 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 business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.53 earnings per share. On average, sell-side analysts predict that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the sale, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock worth $2,890,621 in the last 90 days. 2.14% of the stock is owned by corporate insiders.

Institutional Trading of Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC bought a new stake in Teledyne Technologies during the 4th quarter valued at $28,000. Kapitalo Investimentos Ltda bought a new stake in Teledyne Technologies during the 4th quarter valued at $29,000. CVA Family Office LLC bought a new stake in Teledyne Technologies during the 4th quarter valued at $31,000. NBC Securities Inc. raised its stake in shares of Teledyne Technologies by 89.4% in the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 42 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth $44,000. Institutional investors own 91.58% of the company’s stock.

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.