Brokerages Set Teledyne Technologies Incorporated (NYSE:TDY) PT at $531.00

Teledyne Technologies Incorporated (NYSE:TDY) has received a consensus rating of “Buy” from the five research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $531.00.

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

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,525 shares of company stock worth $26,080,464. 2.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after acquiring an additional 37,884 shares during the period. Janus Henderson Group PLC lifted its position in Teledyne Technologies by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after purchasing an additional 9,368 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after purchasing an additional 186,849 shares during the period. Geode Capital Management LLC grew its position in Teledyne Technologies by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after purchasing an additional 28,224 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after purchasing an additional 64,617 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Down 1.0 %

NYSE TDY opened at $455.10 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The business has a 50 day moving average price of $472.37 and a two-hundred day moving average price of $438.76. The stock has a market cap of $21.21 billion, a PE ratio of 23.01, a P/E/G ratio of 3.30 and a beta of 1.01.

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