Teledyne Technologies Incorporated (NYSE:TDY) Receives Average Rating of "Buy" from Analysts

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $548.00.

Several research firms have recently issued reports on TDY. Needham & Company LLC reiterated a "buy" rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America lifted their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price objective on the stock.

Teledyne Technologies Trading Up 0.7 %

Shares of NYSE TDY traded up $3.44 during trading hours on Thursday, hitting $502.73. The company's stock had a trading volume of 653,569 shares, compared to its average volume of 243,267. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $522.50. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 3.14 and a beta of 1.03. The business has a 50-day simple moving average of $497.26 and a 200-day simple moving average of $472.08.

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Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. The company 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 firm's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.44 earnings per share. On average, analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the company's stock in a transaction 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 transaction, the chief operating officer now owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their position. 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 90 days. 2.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Teledyne Technologies

Several hedge funds have recently bought and sold shares of TDY. Quarry LP purchased a new stake in shares of Teledyne Technologies during the 4th quarter worth approximately $28,000. Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies during the 3rd quarter worth approximately $32,000. Hurley Capital LLC bought a new position in Teledyne Technologies in the 4th quarter valued at $33,000. Ancora Advisors LLC increased its stake in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 50 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the third quarter valued at $39,000. Hedge funds and other 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.