Teledyne Technologies Incorporated (NYSE:TDY) Given Average Recommendation of “Buy” by Analysts

Teledyne Technologies Incorporated (NYSE:TDY) has received an average rating of “Buy” from the five research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $531.00.

TDY has been the subject of a number of research analyst reports. UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. TD Cowen upped 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. Needham & Company LLC raised their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th.

Teledyne Technologies Trading Up 0.7 %

Shares of TDY opened at $461.96 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $492.00. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 3.30 and a beta of 1.01. The business’s fifty day moving average is $472.28 and its 200-day moving average is $439.26.

Teledyne Technologies (NYSE:TDY) last released 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.05 earnings per share. Equities analysts anticipate that Teledyne Technologies will post 19.45 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the completion of the transaction, the insider now owns 2,900 shares in the company, valued at approximately $1,417,259. This trade represents a 34.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,525 shares of company stock worth $26,080,464. Company insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds have recently bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at $27,000. Brooklyn Investment Group bought a new stake in Teledyne Technologies in the third quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the third quarter valued at about $39,000. Quarry LP boosted its position in shares of Teledyne Technologies by 706.3% during the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 113 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Teledyne Technologies by 1,081.8% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 130 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 119 shares in the last quarter. Institutional investors 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.