Teledyne Technologies (NYSE:TDY) Stock Rating Lowered by StockNews.com

Teledyne Technologies (NYSE:TDY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

TDY has been the subject of several other research reports. TD Cowen dropped their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.86.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $374.64 on Thursday. The company has a 50 day moving average of $416.42 and a 200-day moving average of $414.39. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The company has a market cap of $17.75 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the company posted $4.53 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Teledyne Technologies will post 19.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,711 shares of company stock valued at $2,890,621. Insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Several large investors have recently modified their holdings of TDY. Bruce G. Allen Investments LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $28,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $29,000. CVA Family Office LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $31,000. NBC Securities Inc. increased its position in shares of Teledyne Technologies by 89.4% during the first quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 42 shares during the period. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Teledyne Technologies during the third quarter worth $44,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.