Bank of America Forecasts Strong Price Appreciation for Teledyne Technologies (NYSE:TDY) Stock

Teledyne Technologies (NYSE:TDY) had its price objective increased by analysts at Bank of America from $550.00 to $600.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Bank of America‘s target price would suggest a potential upside of 20.32% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $548.00.

Teledyne Technologies Trading Up 0.3 %

NYSE TDY opened at $498.69 on Monday. The company’s fifty day moving average price is $494.82 and its two-hundred day moving average price is $470.83. The company has a market capitalization of $23.36 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $522.50. 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 (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm earned $5.44 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock valued at $17,709,721 over the last three months. Company insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TDY. Stratos Wealth Partners LTD. lifted its holdings in Teledyne Technologies by 4.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after purchasing an additional 21 shares during the period. Ironwood Investment Management LLC raised its position in shares of Teledyne Technologies by 0.8% during the 4th quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock worth $1,335,000 after buying an additional 22 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Teledyne Technologies by 0.4% in the 4th quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company’s stock worth $2,556,000 after acquiring an additional 22 shares during the period. Keel Point LLC boosted its holdings in shares of Teledyne Technologies by 4.5% in the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock valued at $247,000 after acquiring an additional 23 shares in the last quarter. Finally, Metis Global Partners LLC increased its stake in shares of Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after acquiring an additional 24 shares during the period. Institutional investors own 91.58% of the company’s stock.

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.