Teledyne Technologies (NYSE:TDY) Price Target Cut to $455.00 by Analysts at Needham & Company LLC

Teledyne Technologies (NYSE:TDY) had its price target cut by Needham & Company LLC from $510.00 to $455.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Separately, StockNews.com raised shares of Teledyne Technologies from a hold rating to a buy rating in a research note on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Teledyne Technologies currently has a consensus rating of Moderate Buy and an average target price of $474.86.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $377.06 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81. The firm’s 50-day simple moving average is $417.57 and its 200-day simple moving average is $414.64. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $448.19. The firm has a market cap of $17.87 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $4.53 earnings per share. Teledyne Technologies’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts expect that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, Director Michael T. Smith sold 511 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 over the last quarter. Corporate insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC bought a new position in shares of Teledyne Technologies in the 4th quarter valued at about $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Teledyne Technologies in the 4th quarter valued at about $29,000. CVA Family Office LLC bought a new position in shares of Teledyne Technologies in the 4th quarter valued at about $31,000. NBC Securities Inc. grew its position in shares of Teledyne Technologies by 89.4% in the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 42 shares during the period. Finally, Anchor Investment Management LLC bought a new position in shares of Teledyne Technologies in the 4th quarter valued at about $45,000. Institutional investors 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.