Teledyne Technologies (NYSE:TDY) Lowered to Hold Rating by StockNews.com

Teledyne Technologies (NYSE:TDY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other equities research analysts have also commented on TDY. Bank of America increased their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $548.00.

Teledyne Technologies Stock Up 0.4 %

Shares of NYSE:TDY traded up $1.83 during midday trading on Wednesday, hitting $500.16. 207,510 shares of the company’s stock were exchanged, compared to its average volume of 255,040. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a market cap of $23.43 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The stock has a 50 day moving average price of $501.65 and a 200-day moving average price of $476.36.

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

Insider Activity

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock valued at $17,709,721 in the last 90 days. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

A number of large investors have recently modified their holdings of the company. Quarry LP purchased a new stake in Teledyne Technologies in the 4th quarter worth approximately $28,000. Hurley Capital LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth $33,000. Ancora Advisors LLC boosted its stake in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 50 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies during the third quarter worth about $39,000. Finally, Millstone Evans Group LLC bought a new position in Teledyne Technologies in the 4th quarter worth about $42,000. 91.58% of the stock is currently owned by 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.