Teledyne Technologies (NYSE:TDY) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other research analysts also recently commented on the stock. UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $548.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $436.32 on Wednesday. The firm has a market cap of $20.44 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $522.50. The company’s 50 day moving average is $499.21 and its two-hundred day moving average is $476.38.

Teledyne Technologies (NYSE:TDY) last issued its quarterly 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.44 earnings per share. On average, research analysts expect that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction on 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 owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the sale, the vice president now owns 4,962 shares in the company, valued at $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. 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 quarter. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Teledyne Technologies

A number of hedge funds have recently bought and sold shares of TDY. Quarry LP purchased a new stake in Teledyne Technologies in the 4th quarter valued at about $28,000. Hurley Capital LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at $33,000. Ancora Advisors LLC grew its position in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 50 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC acquired a new stake in Teledyne Technologies during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.