Teledyne Technologies Incorporated (NYSE:TDY) Given Average Recommendation of “Buy” by Analysts

Teledyne Technologies Incorporated (NYSE:TDY) has earned a consensus recommendation of “Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $538.00.

TDY has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Finally, Bank of America raised shares of 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.

Insider Buying and Selling

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 over the last quarter. 1.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Covea Finance raised its position in shares of Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after purchasing an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in 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 worth $503,338,000 after buying an additional 64,617 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Teledyne Technologies by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock worth $3,024,000 after buying an additional 640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Teledyne Technologies by 37.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,290 shares of the scientific and technical instruments company’s stock valued at $2,021,000 after buying an additional 1,176 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after acquiring an additional 25,796 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $500.73 on Friday. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a fifty day moving average of $487.08 and a 200-day moving average of $463.14. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $5.44 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that Teledyne Technologies will post 21.55 EPS for the current 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.