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

Teledyne Technologies (NYSE:TDY) had its price target decreased by investment analysts at TD Cowen from $475.00 to $450.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price target would suggest a potential upside of 20.34% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Needham & Company LLC reduced their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $498.43.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded up $11.44 during mid-day trading on Thursday, hitting $373.94. 295,738 shares of the company were exchanged, compared to its average volume of 227,448. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $418.66 and a 200-day simple moving average of $414.90. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business earned $4.53 earnings per share. Teledyne Technologies’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In related news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock valued at $2,890,621 in the last three months. Corporate insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted 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 buying an additional 15,169 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Teledyne Technologies in the fourth quarter valued at about $2,325,000. Grandfield & Dodd LLC grew its stake 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 acquiring an additional 3,111 shares during the period. Metis Global Partners LLC grew its stake in 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 valued at $701,000 after acquiring an additional 303 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at about $934,000. 91.58% of the stock is owned by hedge funds and other 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.