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 presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $538.00.

TDY has been the topic of several research analyst reports. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th.

Teledyne Technologies Stock Down 1.9 %

Shares of NYSE TDY opened at $491.27 on Friday. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a market cap of $22.89 billion, a P/E ratio of 28.51, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $485.23 and a 200 day moving average price of $461.22.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $5.44 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the firm’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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the completion of the transaction, the chairman now directly owns 144,553 shares in the company, valued at $73,769,732.49. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,190 shares of company stock valued at $16,386,864 over the last quarter. Insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds have recently made changes to their positions in TDY. Quarry LP bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $32,000. Hurley Capital LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $33,000. Ancora Advisors LLC raised its holdings in shares of Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 50 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $39,000. Institutional investors own 91.58% of the company’s stock.

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.