Teledyne Technologies Incorporated (NYSE:TDY) Receives $538.00 Consensus Price Target from Analysts

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $538.00.

TDY has been the topic of several research reports. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp grew its stake in Teledyne Technologies by 5.9% in the fourth quarter. Mackenzie Financial Corp now owns 4,268 shares of the scientific and technical instruments company’s stock worth $1,981,000 after purchasing an additional 236 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Teledyne Technologies in the fourth quarter worth about $2,801,000. Toronto Dominion Bank boosted its stake in Teledyne Technologies by 0.6% in the fourth quarter. Toronto Dominion Bank now owns 24,958 shares of the scientific and technical instruments company’s stock valued at $11,584,000 after acquiring an additional 151 shares during the period. US Asset Management LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at approximately $340,000. Finally, GTS Securities LLC boosted its stake in Teledyne Technologies by 6.0% in the fourth quarter. GTS Securities LLC now owns 675 shares of the scientific and technical instruments company’s stock valued at $313,000 after acquiring an additional 38 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Trading Up 1.0 %

NYSE:TDY opened at $500.78 on Friday. The business’s 50-day moving average is $485.63 and its two-hundred day moving average is $462.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $522.50. The firm has a market capitalization of $23.34 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted $5.44 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Research analysts predict that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

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.