Teledyne Technologies Incorporated (NYSE:TDY) Receives Average Rating of “Moderate Buy” from Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $470.83.

Several equities analysts recently commented on TDY shares. TD Cowen cut their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. 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 report on Thursday, April 25th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a research note on Friday, April 26th.

Insiders Place Their Bets

In related news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in shares of 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 worth $40,656,000 after buying an additional 15,169 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Teledyne Technologies in the fourth quarter worth $2,325,000. ING Groep NV increased its position in shares of Teledyne Technologies by 60.1% during the fourth quarter. ING Groep NV now owns 9,460 shares of the scientific and technical instruments company’s stock worth $4,222,000 after purchasing an additional 3,550 shares in the last quarter. Grandfield & Dodd LLC lifted its holdings in shares of Teledyne Technologies by 11.2% during the 4th quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after purchasing an additional 3,111 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Teledyne Technologies by 69.5% in the 4th quarter. BNP Paribas Financial Markets now owns 21,931 shares of the scientific and technical instruments company’s stock worth $9,788,000 after purchasing an additional 8,992 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 0.4 %

Shares of NYSE TDY opened at $402.49 on Monday. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29. The business’s 50 day moving average is $404.48 and its two-hundred day moving average is $415.18. The stock has a market capitalization of $19.07 billion, a P/E ratio of 21.77, a PEG ratio of 2.88 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last released 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). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.53 EPS. As a group, research analysts expect that Teledyne Technologies will post 19.36 EPS for the current year.

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.