Teledyne Technologies (NYSE:TDY) Price Target Cut to $450.00

Teledyne Technologies (NYSE:TDY) had its target price decreased by TD Cowen from $475.00 to $450.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price target suggests a potential upside of 20.12% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC decreased their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $474.86.

Teledyne Technologies Price Performance

TDY opened at $374.64 on Thursday. The business has a fifty day moving average of $416.42 and a 200 day moving average of $414.39. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The stock has a market cap of $17.75 billion, a P/E ratio of 20.26, a PEG ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $4.53 earnings per share. As a group, sell-side analysts anticipate that Teledyne Technologies will post 19.35 EPS for the current year.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Michael T. Smith sold 511 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the transaction, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the transaction, the director now owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. In the last three months, insiders sold 6,711 shares of company stock valued at $2,890,621. Corporate insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $28,000. Kapitalo Investimentos Ltda purchased a new position in Teledyne Technologies during the 4th quarter worth $29,000. CVA Family Office LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $31,000. NBC Securities Inc. grew its stake in Teledyne Technologies by 89.4% during the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 42 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Teledyne Technologies during the 4th quarter valued at about $45,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.