Teledyne Technologies Incorporated (TDY) Given Average Rating of “Hold” by Brokerages
Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given a consensus broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. Teledyne Technologies’ rating score has improved by 16.7% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 1 year consensus price target of $145.00 for the company and are expecting that the company will post $1.25 EPS for the current quarter, according to Zacks. Zacks has also given Teledyne Technologies an industry rank of 83 out of 265 based on the ratings given to its competitors.
TDY has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research note on Saturday, April 15th. Needham & Company LLC upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $140.00 price target on shares of Teledyne Technologies in a research note on Tuesday, June 6th.
Shares of Teledyne Technologies (NYSE:TDY) opened at 135.68 on Tuesday. Teledyne Technologies has a 52 week low of $101.90 and a 52 week high of $137.00. The company’s 50-day moving average is $129.59 and its 200 day moving average is $128.14. The stock has a market capitalization of $4.79 billion, a P/E ratio of 26.65 and a beta of 0.98.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Thursday, May 4th. The scientific and technical instruments company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.51. The company had revenue of $566.10 million for the quarter, compared to analyst estimates of $539.40 million. Teledyne Technologies had a net margin of 8.31% and a return on equity of 13.28%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. On average, equities analysts forecast that Teledyne Technologies will post $5.27 EPS for the current fiscal year.
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In other Teledyne Technologies news, VP Thomas H. Reslewic bought 5,000 shares of the stock in a transaction on Thursday, June 29th. The stock was purchased at an average price of $124.50 per share, for a total transaction of $622,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Mehrabian bought 10,000 shares of the stock in a transaction on Thursday, June 8th. The shares were acquired at an average price of $129.41 per share, with a total value of $1,294,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 15,207 shares of company stock valued at $1,992,502. 3.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Teledyne Technologies by 17,074.2% in the first quarter. BlackRock Inc. now owns 3,937,353 shares of the scientific and technical instruments company’s stock valued at $497,917,000 after buying an additional 3,914,427 shares during the last quarter. Norges Bank purchased a new position in shares of Teledyne Technologies during the fourth quarter valued at about $39,865,000. Vanguard Group Inc. increased its position in shares of Teledyne Technologies by 6.0% in the first quarter. Vanguard Group Inc. now owns 2,671,329 shares of the scientific and technical instruments company’s stock valued at $337,816,000 after buying an additional 151,201 shares during the period. Clearbridge Investments LLC increased its position in shares of Teledyne Technologies by 46.9% in the first quarter. Clearbridge Investments LLC now owns 469,287 shares of the scientific and technical instruments company’s stock valued at $59,346,000 after buying an additional 149,844 shares during the period. Finally, State Street Corp increased its position in shares of Teledyne Technologies by 4.9% in the first quarter. State Street Corp now owns 1,260,869 shares of the scientific and technical instruments company’s stock valued at $159,450,000 after buying an additional 58,466 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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