Teledyne Technologies (NYSE:TDY) Price Target Cut to $455.00 by Analysts at Needham & Company LLC

Teledyne Technologies (NYSE:TDY) had its price target reduced by equities researchers at Needham & Company LLC from $510.00 to $455.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price points to a potential upside of 21.45% from the stock’s current price.

Separately, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $474.86.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $374.64 on Thursday. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $448.19. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02. The business has a 50 day simple moving average of $416.42 and a 200 day simple moving average of $414.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17.

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

Insider Activity

In other news, Director Michael T. Smith sold 511 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction on Friday, March 8th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Smith sold 511 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,711 shares of company stock worth $2,890,621. Insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

A number of hedge funds have recently modified their holdings of TDY. Aristotle Capital Management LLC purchased a new stake in shares of Teledyne Technologies in the third quarter valued at $698,325,000. Norges Bank purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at $243,111,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 26.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after purchasing an additional 193,544 shares in the last quarter. Maren Capital LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at $82,700,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Teledyne Technologies by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after purchasing an additional 151,659 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

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.