Brokerages Set Teledyne Technologies Incorporated (NYSE:TDY) PT at $531.00

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have received a consensus rating of “Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $531.00.

A number of equities analysts recently commented on TDY shares. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. TD Cowen increased their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC lifted their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th.

Insider Buying and Selling at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 1,500 shares of Teledyne Technologies stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $488.71, for a total value of $733,065.00. Following the completion of the sale, the insider now directly owns 2,900 shares in the company, valued at approximately $1,417,259. The trade was a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,525 shares of company stock valued at $26,080,464 in the last ninety days. 2.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies in the third quarter worth $27,000. Brooklyn Investment Group bought a new stake in Teledyne Technologies during the third quarter worth about $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies during the third quarter worth about $39,000. Brown Brothers Harriman & Co. increased its holdings in Teledyne Technologies by 1,081.8% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 130 shares of the scientific and technical instruments company’s stock valued at $50,000 after buying an additional 119 shares during the period. Finally, Quarry LP raised its position in shares of Teledyne Technologies by 706.3% in the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock valued at $50,000 after buying an additional 113 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 0.7 %

NYSE:TDY opened at $461.96 on Friday. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $492.00. The stock’s 50 day moving average price is $472.28 and its two-hundred day moving average price is $439.26.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company earned $5.05 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts expect that Teledyne Technologies will post 19.45 earnings per share for the current fiscal 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.