Teledyne Technologies (NYSE:TDY) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research report released on Thursday morning.

A number of other brokerages also recently commented on TDY. TD Cowen decreased their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a report on Thursday. Needham & Company LLC reduced 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $474.86.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $377.06 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The stock has a 50 day moving average price of $417.57 and a two-hundred day moving average price of $414.64. The company has a market capitalization of $17.87 billion, a P/E ratio of 20.39, a PEG ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data 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). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.53 EPS. Analysts expect that Teledyne Technologies will post 19.35 earnings per share for the current year.

Insider Buying and Selling

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the transaction, the director now owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was 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 directly owns 18,735 shares in the company, valued at approximately $8,110,568.85. 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 over the last ninety days. Company insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth about $29,000. CVA Family Office LLC purchased a new position in Teledyne Technologies during the 4th quarter valued at approximately $31,000. NBC Securities Inc. grew its holdings in Teledyne Technologies by 89.4% during the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 42 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Teledyne Technologies during the 4th quarter valued at approximately $45,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

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.