Teledyne Technologies Incorporated (NYSE:TDY) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

Several other equities research analysts have also issued reports on TDY. Needham & Company LLC reissued a “buy” rating and set a $157.00 price objective (up previously from $148.00) on shares of Teledyne Technologies in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “hold” rating and set a $150.00 price objective (up previously from $145.00) on shares of Teledyne Technologies in a research note on Wednesday, August 9th. BidaskClub raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $157.67.

Shares of Teledyne Technologies (TDY) opened at 151.03 on Friday. The company has a market capitalization of $5.34 billion, a P/E ratio of 27.84 and a beta of 0.96. The company’s 50 day moving average price is $144.30 and its 200 day moving average price is $133.65. Teledyne Technologies has a 12 month low of $101.90 and a 12 month high of $151.54.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.49. The company had revenue of $671.10 million during the quarter, compared to analyst estimates of $636.18 million. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. Analysts expect that Teledyne Technologies will post $5.69 EPS for the current fiscal year.

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In other news, VP Thomas H. Reslewic purchased 5,000 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was purchased at an average price of $124.50 per share, with a total value of $622,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Vanwees sold 6,000 shares of Teledyne Technologies stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $147.07, for a total value of $882,420.00. Following the sale, the senior vice president now directly owns 35,159 shares of the company’s stock, valued at approximately $5,170,834.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,000 shares of company stock valued at $2,060,420. Corporate insiders own 3.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Cetera Investment Advisers bought a new stake in Teledyne Technologies during the second quarter worth about $270,000. Public Employees Retirement System of Ohio lifted its stake in Teledyne Technologies by 848.5% during the second quarter. Public Employees Retirement System of Ohio now owns 17,480 shares of the scientific and technical instruments company’s stock worth $2,231,000 after purchasing an additional 15,637 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Teledyne Technologies during the second quarter worth about $290,000. Tower Research Capital LLC TRC lifted its stake in Teledyne Technologies by 1,204.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,304 shares of the scientific and technical instruments company’s stock worth $166,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Teledyne Technologies by 35.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,286 shares of the scientific and technical instruments company’s stock worth $2,032,000 after purchasing an additional 4,264 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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