Teledyne Technologies Incorporated (NYSE:TDY) Receives Average Recommendation of “Buy” from Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has been given an average recommendation of “Buy” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $531.00.

Several research firms have recently weighed in on TDY. UBS Group began 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 for the company. Needham & Company LLC upped their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, TD Cowen lifted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

Insider Buying and Selling at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction that occurred on 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. The trade was a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 2,538 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $513.02, for a total value of $1,302,044.76. Following the completion of the transaction, the executive vice president now directly owns 32,100 shares of the company’s stock, valued at $16,467,942. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,116 shares of company stock worth $33,505,935. 2.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TDY. Stratos Wealth Partners LTD. boosted its holdings in 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 in the last quarter. Metis Global Partners LLC lifted its position in shares of Teledyne Technologies by 1.6% during the 3rd 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 last quarter. Crumly & Associates Inc. grew its holdings in shares of Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of 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 during the period. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.1 %

Shares of NYSE TDY opened at $509.22 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.33. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $518.85. The stock’s 50-day simple moving average is $475.48 and its 200-day simple moving average is $449.37. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 3.24 and a beta of 1.01.

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. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company posted $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Teledyne Technologies will post 21.3 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.