Teledyne Technologies Incorporated (NYSE:TDY) Receives Average Recommendation of “Buy” from Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given an average recommendation of “Buy” by the five brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $548.00.

TDY has been the subject of a number of recent analyst reports. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $508.66 on Thursday. The company has a market capitalization of $23.82 billion, a P/E ratio of 29.52, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two 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. The stock has a 50 day moving average price of $499.91 and a two-hundred day moving average price of $473.81.

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 for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the company posted $5.44 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts expect that Teledyne Technologies will post 21.55 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In related news, EVP Melanie Susan Cibik sold 706 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last ninety days. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Teledyne Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi grew its stake in shares of Teledyne Technologies by 11.9% in the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after acquiring an additional 13,244 shares during the last quarter. Covea Finance increased its stake in Teledyne Technologies by 25.1% during the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after purchasing an additional 4,300 shares in the last quarter. ING Groep NV raised its holdings in Teledyne Technologies by 144.9% in the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock worth $2,763,000 after buying an additional 3,522 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Teledyne Technologies by 10.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after buying an additional 640 shares during the last quarter. Hedge funds and other 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.