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

Teledyne Technologies Incorporated (NYSE:TDY) has earned 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 recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $531.00.

A number of brokerages have commented on TDY. 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 report on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen lifted their price objective 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, UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 approximately $83,724,268.66. This trade represents a 21.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,683 shares of company stock valued at $38,943,649. Insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after purchasing an additional 37,884 shares during the period. Janus Henderson Group PLC increased its stake 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 worth $748,167,000 after acquiring an additional 9,368 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 valued at $520,335,000 after acquiring an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 valued at $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after purchasing an additional 30,157 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Down 1.5 %

TDY opened at $510.96 on Wednesday. The company has a fifty day moving average price of $477.57 and a two-hundred day moving average price of $451.08. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a market cap of $23.81 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business earned $5.44 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that Teledyne Technologies will post 21.4 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.