Barclays Cuts Teledyne Technologies (NYSE:TDY) Price Target to $584.00

Teledyne Technologies (NYSE:TDY) had its target price lowered by Barclays from $606.00 to $584.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also recently issued reports on TDY. Weiss Ratings restated a “buy (b)” rating on shares of Teledyne Technologies in a research note on Wednesday, October 8th. Needham & Company LLC lifted their target price on shares of Teledyne Technologies from $585.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley upped their price target on shares of Teledyne Technologies from $580.00 to $620.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, UBS Group increased their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $606.29.

Teledyne Technologies Trading Down 0.8%

NYSE:TDY opened at $532.66 on Thursday. Teledyne Technologies has a 12 month low of $419.00 and a 12 month high of $595.99. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $558.72 and its 200 day moving average is $523.44. The stock has a market capitalization of $24.98 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.46 and a beta of 1.11.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 earnings per share for the quarter, beating the consensus estimate of $5.47 by $0.10. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Teledyne Technologies had a return on equity of 9.95% and a net margin of 13.62%.Teledyne Technologies’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.10 earnings per share. Teledyne Technologies has set its FY 2025 guidance at 21.450-21.600 EPS. Q4 2025 guidance at 5.730-5.880 EPS. Sell-side analysts expect that Teledyne Technologies will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its board has initiated a stock buyback plan on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the completion of the transaction, the chief executive officer owned 10,391 shares of the company’s stock, valued at approximately $5,771,265.31. The trade was a 39.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors have recently made changes to their positions in TDY. Golden State Wealth Management LLC raised its position in shares of Teledyne Technologies by 205.9% during the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 35 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Teledyne Technologies by 75.9% in the second quarter. SBI Securities Co. Ltd. now owns 51 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 22 shares during the last quarter. Rexford Capital Inc. purchased a new stake in Teledyne Technologies during the second quarter valued at about $29,000. TCTC Holdings LLC lifted its stake in Teledyne Technologies by 97.4% during the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 37 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Teledyne Technologies by 52.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 78 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 27 shares in the last quarter. 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.