Zacks: Teledyne Technologies Incorporated (TDY) Given Average Rating of “Hold” by Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has received an average broker rating score of 2.50 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has assigned a buy rating to the company.

Brokerages have set a 1-year consensus price target of $231.00 for the company and are anticipating that the company will post $2.05 EPS for the current quarter, according to Zacks. Zacks has also given Teledyne Technologies an industry rank of 81 out of 255 based on the ratings given to its competitors.

Several research analysts have issued reports on TDY shares. Needham & Company LLC upped their price objective on Teledyne Technologies from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Zacks Investment Research raised Teledyne Technologies from a “hold” rating to a “buy” rating and set a $246.00 price objective on the stock in a report on Thursday, August 2nd. Finally, Jefferies Financial Group set a $222.00 price objective on Teledyne Technologies and gave the stock a “hold” rating in a report on Sunday, August 5th.

NYSE:TDY opened at $244.01 on Friday. Teledyne Technologies has a 52-week low of $153.95 and a 52-week high of $247.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.27 and a current ratio of 1.96. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 3.93 and a beta of 1.08.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Thursday, August 2nd. The scientific and technical instruments company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.44. Teledyne Technologies had a return on equity of 14.81% and a net margin of 10.34%. The firm had revenue of $732.50 million for the quarter, compared to the consensus estimate of $707.12 million. During the same quarter in the prior year, the business earned $1.66 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts expect that Teledyne Technologies will post 8.25 earnings per share for the current year.

In other Teledyne Technologies news, CFO Sue Main sold 7,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $225.41, for a total transaction of $1,577,870.00. Following the completion of the sale, the chief financial officer now owns 42,158 shares in the company, valued at approximately $9,502,834.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas H. Reslewic sold 21,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $225.49, for a total transaction of $4,735,290.00. Following the sale, the vice president now owns 24,409 shares of the company’s stock, valued at approximately $5,503,985.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,000 shares of company stock worth $21,128,980. Company insiders own 3.73% of the company’s stock.

Several institutional investors have recently modified their holdings of TDY. Lord Abbett & CO. LLC raised its position in shares of Teledyne Technologies by 158.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 363,595 shares of the scientific and technical instruments company’s stock valued at $68,054,000 after acquiring an additional 223,056 shares during the last quarter. BlackRock Inc. raised its position in shares of Teledyne Technologies by 4.8% during the 1st quarter. BlackRock Inc. now owns 3,642,342 shares of the scientific and technical instruments company’s stock valued at $681,738,000 after acquiring an additional 165,676 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Teledyne Technologies by 10,918.8% during the 1st quarter. Summit Trail Advisors LLC now owns 113,714 shares of the scientific and technical instruments company’s stock valued at $114,000 after acquiring an additional 112,682 shares during the last quarter. Legal & General Group Plc raised its position in shares of Teledyne Technologies by 160.3% during the 1st quarter. Legal & General Group Plc now owns 115,144 shares of the scientific and technical instruments company’s stock valued at $21,551,000 after acquiring an additional 70,913 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Teledyne Technologies by 16.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 464,323 shares of the scientific and technical instruments company’s stock valued at $86,907,000 after acquiring an additional 65,033 shares during the last quarter. Institutional investors own 83.90% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

Featured Article: NASDAQ Stock Market Explained

Get a free copy of the Zacks research report on Teledyne Technologies (TDY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Teledyne Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teledyne Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply