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

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

Several equities research analysts have recently weighed in on the stock. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. TD Cowen boosted their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $514.27 on Wednesday. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 3.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The firm’s fifty day moving average price is $478.88 and its 200 day moving average price is $453.38.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm posted $5.44 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Teledyne Technologies will post 21.51 EPS for the current fiscal year.

Insider Activity

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were 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 directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,683 shares of company stock valued at $38,943,649. Company insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $46,000. Finally, Quarry LP lifted its stake in shares of Teledyne Technologies by 706.3% in the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 113 shares during the period. 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.