Teledyne Technologies Incorporated (NYSE:TDY) Receives Average Recommendation of “Buy” from Brokerages

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

TDY has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Needham & Company LLC upped their price target 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. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th.

Insider Activity

In related news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,525 shares of company stock valued at $26,080,464. 2.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TDY. State Street Corp lifted its position in Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after buying an additional 37,884 shares during the period. Janus Henderson Group PLC lifted its position in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after acquiring an additional 9,368 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after acquiring an additional 186,849 shares in the last quarter. Geode Capital Management LLC grew its holdings in Teledyne Technologies by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after purchasing an additional 28,224 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after purchasing an additional 64,617 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $459.70 on Friday. The company has a market capitalization of $21.42 billion, a P/E ratio of 23.24, a P/E/G ratio of 3.30 and a beta of 1.01. The business has a fifty day simple moving average of $472.60 and a two-hundred day simple moving average of $437.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $492.00.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.05 EPS. On average, analysts expect that Teledyne Technologies will post 19.45 earnings per share for the current year.

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.