Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a buy rating and issued a $455.00 price objective on shares of Teledyne Technologies in a research note on Tuesday, October 24th. BNP Paribas initiated coverage on Teledyne Technologies in a research report on Thursday, October 5th. They issued an outperform rating and a $530.00 target price on the stock. UBS Group initiated coverage on Teledyne Technologies in a research report on Wednesday, September 27th. They issued a buy rating and a $495.00 target price on the stock. Finally, The Goldman Sachs Group raised Teledyne Technologies from a neutral rating to a buy rating and upped their target price for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies currently has an average rating of Moderate Buy and a consensus target price of $503.86.
Teledyne Technologies Stock Up 0.1 %
Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $5.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.29. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.43 billion. Teledyne Technologies had a return on equity of 10.86% and a net margin of 14.02%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.54 EPS. As a group, analysts expect that Teledyne Technologies will post 19.31 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Robert Mehrabian sold 45,500 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the transaction, the chief executive officer now owns 196,052 shares of the company’s stock, valued at $81,583,118.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Robert Mehrabian sold 45,500 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the transaction, the chief executive officer now directly owns 196,052 shares in the company, valued at approximately $81,583,118.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael T. Smith sold 1,071 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $395.00, for a total transaction of $423,045.00. Following the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $22,314,340. The disclosure for this sale can be found here. Insiders sold 62,717 shares of company stock valued at $26,140,340 over the last 90 days. 2.14% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in TDY. Vanguard Group Inc. grew its stake in shares of Teledyne Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,098,739 shares of the scientific and technical instruments company’s stock worth $2,409,817,000 after acquiring an additional 64,262 shares during the last quarter. BlackRock Inc. raised its position in shares of Teledyne Technologies by 5.4% during the second quarter. BlackRock Inc. now owns 3,856,247 shares of the scientific and technical instruments company’s stock valued at $1,585,342,000 after buying an additional 196,915 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Teledyne Technologies by 2.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,717,685 shares of the scientific and technical instruments company’s stock valued at $1,086,830,000 after buying an additional 60,379 shares during the period. State Street Corp grew its position in Teledyne Technologies by 1.7% during the second quarter. State Street Corp now owns 1,928,047 shares of the scientific and technical instruments company’s stock worth $792,639,000 after buying an additional 33,066 shares in the last quarter. Finally, Aristotle Capital Management LLC bought a new position in Teledyne Technologies during the third quarter valued at about $698,325,000. 87.57% of the stock is owned by institutional investors.
About Teledyne Technologies
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
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