Analysts Set Teledyne Technologies Incorporated (NYSE:TDY) Target Price at $498.43

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $474.86.

A number of brokerages have issued reports on TDY. Needham & Company LLC lowered their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a report on Thursday. TD Cowen dropped their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a report on Thursday. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a report on Friday. Finally, StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday.

Insider Buying and Selling

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the sale, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were 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 in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock valued at $2,890,621 over the last ninety days. 2.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TDY. Bruce G. Allen Investments LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at $28,000. Kapitalo Investimentos Ltda bought a new position in Teledyne Technologies during the fourth quarter worth $29,000. CVA Family Office LLC acquired a new stake in Teledyne Technologies in the fourth quarter worth $31,000. NBC Securities Inc. increased its stake 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 purchasing an additional 42 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter valued at about $45,000. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Trading Down 0.6 %

TDY opened at $374.64 on Thursday. The company’s 50 day moving average is $416.42 and its 200-day moving average is $414.42. The company has a market cap of $17.75 billion, a P/E ratio of 20.26, a PEG ratio of 2.58 and a beta of 1.02. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28.

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 company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.53 EPS. Equities research analysts predict that Teledyne Technologies will post 19.35 earnings per share for the current fiscal year.

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.