Teledyne Technologies (NYSE:TDY) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research note published on Wednesday morning.

Other equities analysts also recently issued research reports about the company. Bank of America upped their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Teledyne Technologies has an average rating of “Moderate Buy” and an average price target of $548.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $436.32 on Wednesday. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 3.14 and a beta of 1.03. The firm’s fifty day moving average is $499.21 and its 200 day moving average is $476.38. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.44 earnings per share. Sell-side analysts forecast that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Insider Activity at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares of the company’s stock, valued at $26,691,559.44. This represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock worth $17,709,721 over the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Trading of Teledyne Technologies

Several institutional investors have recently modified their holdings of TDY. Stratos Wealth Partners LTD. raised its stake in Teledyne Technologies by 4.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after purchasing an additional 21 shares during the last quarter. Ironwood Investment Management LLC lifted its position in Teledyne Technologies by 0.8% during the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock worth $1,335,000 after buying an additional 22 shares in the last quarter. Tidal Investments LLC grew its holdings in Teledyne Technologies by 0.4% in the 4th quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company’s stock valued at $2,556,000 after buying an additional 22 shares in the last quarter. Keel Point LLC raised its holdings in shares of Teledyne Technologies by 4.5% during the 4th quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock worth $247,000 after acquiring an additional 23 shares during the period. Finally, New York Life Investment Management LLC boosted its position in shares of Teledyne Technologies by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock valued at $2,884,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds 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.