Research Analysts’ Recent Ratings Changes for Teledyne Technologies (TDY)

Several analysts have recently updated their ratings and price targets for Teledyne Technologies (NYSE: TDY):

• 4/26/2024 – Teledyne Technologies was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $400.00 price target on the stock, down previously from $490.00.
• 4/25/2024 – Teledyne Technologies was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/25/2024 – Teledyne Technologies had its price target lowered by analysts at TD Cowen from $475.00 to $450.00. They now have a “buy” rating on the stock.
• 4/25/2024 – Teledyne Technologies had its price target lowered by analysts at Needham & Company LLC from $510.00 to $455.00. They now have a “buy” rating on the stock.

Teledyne Technologies Stock Performance

Shares of TDY opened at $374.64 on Monday. The company has a 50-day simple moving average of $416.42 and a 200-day simple moving average of $414.43. 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 company has a market capitalization 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 Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business earned $4.53 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. Equities research analysts predict that Teledyne Technologies Incorporated will post 20.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now 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 the SEC website. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 of the company’s stock, valued at $24,348,052. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Simon M. Lorne sold 2,200 shares of the 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 sale, the director now directly owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,711 shares of company stock worth $2,890,621. 2.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently modified their holdings of TDY. YHB Investment Advisors Inc. purchased a new stake in shares of Teledyne Technologies during the 1st quarter valued at about $107,000. First National Trust Co raised its stake in shares of Teledyne Technologies by 0.4% during the first quarter. First National Trust Co now owns 11,011 shares of the scientific and technical instruments company’s stock valued at $4,727,000 after purchasing an additional 40 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its position in shares of Teledyne Technologies by 8.3% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 1,507 shares of the scientific and technical instruments company’s stock worth $647,000 after purchasing an additional 115 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Teledyne Technologies by 2.0% during the first quarter. WCM Investment Management LLC now owns 2,145 shares of the scientific and technical instruments company’s stock worth $921,000 after purchasing an additional 43 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Teledyne Technologies by 18.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,439 shares of the scientific and technical instruments company’s stock valued at $9,204,000 after purchasing an additional 3,400 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.