Teledyne Technologies Incorporated (NYSE:TDY) Given Consensus Rating of “Buy” by Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has earned a consensus rating of “Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $548.00.

Several analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America boosted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday. Finally, UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company.

Insider Buying and Selling at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the transaction, the chief operating officer now directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 over the last ninety days. Company insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its position in shares of Teledyne Technologies by 4.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after buying an additional 21 shares during the period. Ironwood Investment Management LLC raised its holdings in Teledyne Technologies by 0.8% during the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock worth $1,335,000 after purchasing an additional 22 shares in the last quarter. Tidal Investments LLC raised its holdings in Teledyne Technologies by 0.4% during the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company’s stock worth $2,556,000 after purchasing an additional 22 shares in the last quarter. Keel Point LLC raised its holdings in Teledyne Technologies by 4.5% during the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock worth $247,000 after purchasing an additional 23 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Teledyne Technologies by 4.8% during the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after purchasing an additional 25 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 0.4 %

Shares of NYSE TDY opened at $500.35 on Thursday. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $522.50. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock’s 50-day simple moving average is $495.59 and its 200-day simple moving average is $471.03.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.44 earnings per share. As a group, equities analysts anticipate 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.