Teledyne Technologies Incorporated (TDY) Given $150.00 Consensus Target Price by Analysts
Shares of Teledyne Technologies Incorporated (NYSE:TDY) have earned 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 rating and one has given a buy rating to the company.
Brokers have set a 12-month consensus target price of $150.00 for the company and are anticipating that the company will post $1.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Teledyne Technologies an industry rank of 162 out of 265 based on the ratings given to related companies.
Several equities research analysts recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $140.00 price target on shares of Teledyne Technologies in a research report on Friday, July 7th. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $157.00 price target (up previously from $148.00) on shares of Teledyne Technologies in a research report on Wednesday, August 9th. Finally, ValuEngine cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
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Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.49. Teledyne Technologies had a net margin of 8.44% and a return on equity of 13.80%. The company had revenue of $671.10 million for the quarter, compared to analysts’ expectations of $636.18 million. During the same quarter in the previous year, the business posted $1.32 earnings per share. Teledyne Technologies’s quarterly revenue was up 24.3% on a year-over-year basis.
In other news, SVP Jason Vanwees sold 6,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $147.07, for a total transaction of $882,420.00. Following the completion of the sale, the senior vice president now directly owns 35,159 shares of the company’s stock, valued at $5,170,834.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melanie Susan Cibik sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.20, for a total transaction of $584,800.00. Following the sale, the vice president now directly owns 26,280 shares of the company’s stock, valued at $3,842,136. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $2,060,420 over the last ninety days. 3.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Teledyne Technologies by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 1,188 shares of the scientific and technical instruments company’s stock valued at $149,000 after purchasing an additional 29 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $166,000 after purchasing an additional 1,204 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Teledyne Technologies by 15.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock valued at $169,000 after purchasing an additional 177 shares during the period. ETF Managers Group LLC purchased a new stake in shares of Teledyne Technologies during the second quarter valued at $181,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Teledyne Technologies during the first quarter valued at $219,000. 82.85% 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.
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