Analysts Set Teledyne Technologies Incorporated (NYSE:TDY) Price Target at $531.00

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned an average recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $531.00.

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

Insider Activity at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction dated 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 approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,025 shares of company stock valued at $25,347,399 over the last ninety days. Corporate insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in 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 purchasing an additional 37,884 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Teledyne Technologies by 0.6% during 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 buying an additional 9,368 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after buying an additional 186,849 shares during the period. Geode Capital Management LLC boosted its holdings 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 buying an additional 28,224 shares during the period. Finally, Earnest Partners LLC grew its stake in Teledyne Technologies by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after buying an additional 13,576 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $478.96 on Tuesday. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The company has a 50 day simple moving average of $467.11 and a 200 day simple moving average of $429.19. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $492.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $5.05 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts anticipate that Teledyne Technologies will post 19.45 EPS 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.