Teledyne Technologies Incorporated (NYSE:TDY) Given Average Recommendation of “Buy” by Analysts

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus rating of “Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $548.00.

Several research analysts recently issued reports on TDY shares. Bank of America lifted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th.

Insider Buying and Selling at Teledyne Technologies

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TDY. LPL Financial LLC raised its stake in Teledyne Technologies by 8.5% in the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock valued at $13,166,000 after acquiring an additional 2,224 shares during the period. Amundi raised its position in shares of Teledyne Technologies by 11.9% in the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock valued at $57,687,000 after purchasing an additional 13,244 shares during the period. Covea Finance raised its position in shares of Teledyne Technologies by 25.1% in the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after purchasing an additional 4,300 shares during the period. ING Groep NV lifted its stake in shares of Teledyne Technologies by 144.9% during the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after buying an additional 3,522 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after buying an additional 64,617 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 1.2 %

NYSE TDY opened at $464.63 on Monday. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $522.50. The business has a 50 day moving average price of $490.99 and a 200-day moving average price of $477.66. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.44 earnings per share. As a group, equities analysts expect that Teledyne Technologies will post 21.55 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.