Brokerages Set Teledyne Technologies Incorporated (NYSE:TDY) PT at $498.43

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $474.86.

Several research firms recently issued reports on TDY. Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen reduced their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $490.00 to $400.00 in a research note on Friday.

Teledyne Technologies Stock Down 0.6 %

NYSE:TDY opened at $374.64 on Thursday. The business’s fifty day moving average price is $416.42 and its 200 day moving average price is $414.42. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $4.53 earnings per share. On average, sell-side analysts forecast that Teledyne Technologies will post 19.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the sale, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Insiders have sold 6,711 shares of company stock worth $2,890,621 over the last 90 days. Corporate insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bruce G. Allen Investments LLC bought a new position in shares of Teledyne Technologies in the fourth quarter valued at about $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $29,000. CVA Family Office LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $31,000. NBC Securities Inc. grew its stake in shares of Teledyne Technologies by 89.4% during the first quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 42 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $45,000. 91.58% of the stock is owned by institutional investors and hedge funds.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.