StockNews.com Upgrades Teledyne Technologies (NYSE:TDY) to “Buy”

Teledyne Technologies (NYSE:TDY) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also recently commented on TDY. Bank of America boosted their price target 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. Needham & Company LLC restated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $548.00.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $462.30 on Wednesday. The company has a fifty day moving average price of $487.20 and a 200 day moving average price of $477.87. 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 $21.65 billion, a PE ratio of 26.83, a PEG ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

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, beating 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%. Teledyne Technologies’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.44 EPS. 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, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDY. Quarry LP acquired a new position in Teledyne Technologies during the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new position in shares of Teledyne Technologies in the first quarter valued at approximately $28,000. Hurley Capital LLC bought a new position in Teledyne Technologies in the 4th quarter valued at approximately $33,000. Ancora Advisors LLC boosted its position in Teledyne Technologies by 192.3% during the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 50 shares during the period. Finally, City Holding Co. bought a new stake in Teledyne Technologies during the 1st quarter worth approximately $38,000. 91.58% of the stock is owned by institutional investors and hedge funds.

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.