Zacks: Teledyne Technologies Incorporated (TDY) Given Consensus Recommendation of “Hold” by Analysts
Teledyne Technologies Incorporated (NYSE:TDY) has been given a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company.
Analysts have set a 12 month consensus price target of $180.00 for the company and are predicting that the company will post $1.74 EPS for the current quarter, according to Zacks. Zacks has also given Teledyne Technologies an industry rank of 160 out of 265 based on the ratings given to its competitors.
Several research firms have recently issued reports on TDY. ValuEngine lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday. Jefferies Group boosted their price objective on shares of Teledyne Technologies from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Finally, Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $157.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, November 3rd.
Teledyne Technologies (NYSE:TDY) last released its earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.34. Teledyne Technologies had a net margin of 8.67% and a return on equity of 14.18%. The firm had revenue of $662.20 million during the quarter, compared to analyst estimates of $656.20 million. During the same period last year, the business earned $1.46 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis. analysts forecast that Teledyne Technologies will post 6.7 earnings per share for the current year.
In related news, CFO Sue Main sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $183.88, for a total value of $1,287,160.00. Following the completion of the transaction, the chief financial officer now directly owns 40,874 shares in the company, valued at approximately $7,515,911.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Cynthia Y. Belak sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $185.19, for a total transaction of $740,760.00. Following the completion of the transaction, the vice president now owns 6,903 shares of the company’s stock, valued at $1,278,366.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,364 shares of company stock valued at $4,643,847. 3.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TDY. Tower Research Capital LLC TRC raised its stake in Teledyne Technologies by 1,204.0% during the 2nd 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 buying an additional 1,204 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Teledyne Technologies by 15.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock valued at $169,000 after buying an additional 177 shares during the last quarter. ETF Managers Group LLC purchased a new stake in Teledyne Technologies during the 2nd quarter valued at $181,000. Zions Bancorporation purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $220,000. Finally, AMP Capital Investors Ltd purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 84.07% of the company’s stock.
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About Teledyne Technologies
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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