Teledyne Technologies (NYSE:TDY) Lowered to “Neutral” at Bank of America

Teledyne Technologies (NYSE:TDY) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $400.00 target price on the scientific and technical instruments company’s stock, down from their prior target price of $490.00. Bank of America‘s price objective points to a potential upside of 6.77% from the company’s previous close.

TDY has been the topic of several other research reports. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. TD Cowen lowered their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Needham & Company LLC cut their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $474.86.

Teledyne Technologies Stock Performance

TDY stock opened at $374.64 on Friday. The business has a 50 day moving average of $416.42 and a 200-day moving average of $414.42. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $448.19. The firm has a market cap of $17.75 billion, a PE ratio of 20.26, a P/E/G ratio of 2.56 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted $4.53 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Teledyne Technologies will post 20.61 earnings per share 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 shares were sold at an average price of $426.70, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction that occurred on Friday, March 8th. The shares were 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 directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies 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 transaction, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,711 shares of company stock valued at $2,890,621. Corporate insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Teledyne Technologies by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock worth $2,462,593,000 after purchasing an additional 77,890 shares during the period. Aristotle Capital Management LLC bought a new stake in shares of Teledyne Technologies in the third quarter worth $698,325,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Teledyne Technologies by 26.3% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after acquiring an additional 193,544 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Teledyne Technologies by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after acquiring an additional 151,659 shares during the period. Finally, King Luther Capital Management Corp boosted its position in Teledyne Technologies by 1.6% in the fourth quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock worth $273,586,000 after purchasing an additional 9,843 shares during 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.