Several other equities analysts have also recently issued reports on TDY. BNP Paribas initiated coverage on Teledyne Technologies in a research note on Thursday, October 5th. They issued an “outperform” rating and a $530.00 price objective for the company. Needham & Company LLC cut their target price on Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $515.67.
Teledyne Technologies Stock Performance
Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.40. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $4.94 EPS. As a group, sell-side analysts forecast that Teledyne Technologies will post 20.46 earnings per share for the current year.
Insider Buying and Selling at Teledyne Technologies
In other Teledyne Technologies news, Director Michael T. Smith sold 1,071 shares of Teledyne Technologies stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $395.00, for a total value of $423,045.00. Following the transaction, the director now directly owns 56,492 shares in the company, valued at approximately $22,314,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the sale, the director now directly owns 56,492 shares in the company, valued at $24,348,052. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 1,071 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $395.00, for a total value of $423,045.00. Following the completion of the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at $22,314,340. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,277 shares of company stock worth $29,398,579. 2.14% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Teledyne Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Teledyne Technologies in the fourth quarter valued at about $109,000. Marks Group Wealth Management Inc raised its position in shares of Teledyne Technologies by 0.5% during the 4th quarter. Marks Group Wealth Management Inc now owns 16,098 shares of the scientific and technical instruments company’s stock worth $7,184,000 after purchasing an additional 75 shares during the period. Jennison Associates LLC increased its position in Teledyne Technologies by 50.9% in the 4th quarter. Jennison Associates LLC now owns 178,793 shares of the scientific and technical instruments company’s stock valued at $79,794,000 after acquiring an additional 60,335 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Teledyne Technologies by 13.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,713 shares of the scientific and technical instruments company’s stock valued at $2,103,000 after acquiring an additional 573 shares during the period. Finally, Grandfield & Dodd LLC increased its position in Teledyne Technologies by 11.2% in the 4th quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after acquiring an additional 3,111 shares during the period. 87.57% of the stock is currently owned by institutional investors and hedge funds.
About Teledyne Technologies
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
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