Teledyne Technologies (NYSE:TDY) Price Target Cut to $455.00

Teledyne Technologies (NYSE:TDY) had its price objective cut by equities researchers at Needham & Company LLC from $510.00 to $455.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target suggests a potential upside of 21.45% from the stock’s previous close.

Separately, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $474.86.

Teledyne Technologies Stock Performance

NYSE TDY opened at $374.64 on Thursday. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a market capitalization of $17.75 billion, a P/E ratio of 20.26, a PEG ratio of 2.48 and a beta of 1.02. The business has a 50 day moving average price of $416.42 and a 200 day moving average price of $414.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17.

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

Insiders Place Their Bets

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the sale, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Simon M. Lorne sold 2,200 shares of the firm’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 sale, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,711 shares of company stock valued at $2,890,621. Corporate insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds have recently made changes to their positions in the business. Bruce G. Allen Investments LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $28,000. Kapitalo Investimentos Ltda acquired a new position in Teledyne Technologies in the fourth quarter valued at $29,000. CVA Family Office LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at $31,000. NBC Securities Inc. boosted its holdings in Teledyne Technologies by 89.4% in the first quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 42 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at $45,000. Institutional investors and hedge funds 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.