Teledyne Technologies Incorporated (NYSE:TDY) Receives $531.00 Average PT from Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $531.00.

A number of research analysts recently commented on the company. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th.

Teledyne Technologies Stock Down 0.8 %

Shares of NYSE TDY opened at $475.05 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $467.79 and a 200-day moving average of $429.94. The firm has a market capitalization of $22.14 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 3.29 and a beta of 1.01. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.05 EPS. Sell-side analysts expect that Teledyne Technologies will post 19.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now owns 54,935 shares in the company, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert Mehrabian sold 3,925 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,025 shares of company stock valued at $25,347,399 in the last ninety days. Company insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Several hedge funds have recently made changes to their positions in TDY. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies in the third quarter worth about $27,000. American National Bank bought a new position in shares of Teledyne Technologies in the 2nd quarter worth approximately $28,000. Innealta Capital LLC bought a new position in shares of Teledyne Technologies in the 2nd quarter worth approximately $28,000. Tortoise Investment Management LLC lifted its stake in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 24 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $32,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.