Teledyne Technologies Incorporated (NYSE:TDY) Receives Consensus Rating of “Buy” from Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has been assigned an average recommendation of “Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have covered the stock in the last year is $531.00.

Several research analysts recently weighed in on TDY shares. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the sale, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,025 shares of company stock valued at $25,347,399. Company insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TDY. Verition Fund Management LLC grew its holdings in Teledyne Technologies by 240.5% during the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after buying an additional 25,796 shares in the last quarter. National Bank of Canada FI grew its stake in Teledyne Technologies by 217.5% during the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after acquiring an additional 36,867 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Teledyne Technologies by 11.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock worth $7,953,000 after acquiring an additional 2,152 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Teledyne Technologies in the 3rd quarter worth approximately $5,208,000. Finally, Bank of Montreal Can boosted its holdings in Teledyne Technologies by 14.2% in the 2nd quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock valued at $14,922,000 after purchasing an additional 4,731 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of TDY opened at $475.05 on Tuesday. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock has a 50 day moving average price of $467.79 and a two-hundred day moving average price of $429.94. The firm has a market capitalization of $22.14 billion, a P/E ratio of 24.02, a P/E/G ratio of 3.29 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.05 EPS. Equities analysts forecast that Teledyne Technologies will post 19.45 earnings per share for the current fiscal year.

About Teledyne Technologies

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.