Zacks: Teledyne Technologies Incorporated (TDY) Given Consensus Rating of “Hold” by Analysts

Teledyne Technologies Incorporated (NYSE:TDY) has been assigned an average broker rating score of 2.50 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company. Teledyne Technologies’ rating score has declined by 25% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 1-year consensus price objective of $187.50 for the company and are anticipating that the company will post $1.74 earnings per share for the current quarter, according to Zacks. Zacks has also given Teledyne Technologies an industry rank of 81 out of 265 based on the ratings given to related companies.

Several brokerages have recently issued reports on TDY. ValuEngine downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group increased their price objective on Teledyne Technologies from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, Needham & Company LLC increased their price objective on Teledyne Technologies from $157.00 to $190.00 and gave the company a “buy” rating in a report on Friday, November 3rd.

Shares of Teledyne Technologies (TDY) traded up $1.31 during trading hours on Friday, hitting $191.93. 211,696 shares of the stock traded hands, compared to its average volume of 129,444. The firm has a market capitalization of $6,755.26, a P/E ratio of 32.64, a PEG ratio of 3.58 and a beta of 1.03. The company has a quick ratio of 1.16, a current ratio of 1.98 and a debt-to-equity ratio of 0.64. Teledyne Technologies has a 52 week low of $119.69 and a 52 week high of $196.71.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The company had revenue of $662.20 million during the quarter, compared to the consensus estimate of $656.20 million. Teledyne Technologies had a net margin of 8.67% and a return on equity of 14.18%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. sell-side analysts expect that Teledyne Technologies will post 6.7 earnings per share for the current fiscal year.

In related news, CFO Sue Main sold 7,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $183.88, for a total value of $1,287,160.00. Following the completion of the sale, the chief financial officer now directly owns 40,874 shares in the company, valued at $7,515,911.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia Y. Belak sold 4,000 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $185.19, for a total value of $740,760.00. Following the completion of the sale, 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. Insiders sold 25,364 shares of company stock valued at $4,643,847 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Teledyne Technologies during the fourth quarter valued at $380,000. Charter Trust Co. bought a new stake in Teledyne Technologies during the fourth quarter valued at $454,000. Schwab Charles Investment Management Inc. boosted its position in Teledyne Technologies by 5.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 223,964 shares of the scientific and technical instruments company’s stock valued at $40,572,000 after acquiring an additional 11,402 shares during the last quarter. TT International boosted its position in Teledyne Technologies by 73.2% during the third quarter. TT International now owns 30,320 shares of the scientific and technical instruments company’s stock valued at $4,826,000 after acquiring an additional 12,816 shares during the last quarter. Finally, Sterling Capital Management LLC bought a new stake in Teledyne Technologies during the third quarter valued at $292,000. 84.07% of the stock is currently owned by institutional investors and hedge funds.

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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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