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

Shares of Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) have earned a consensus rating of "Buy" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $531.00.

Several research analysts have weighed in on the company. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Bank of America upgraded shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, November 11th.

Teledyne Technologies Stock Up 0.0 %

TDY stock traded up $0.08 during midday trading on Wednesday, hitting $509.26. The company's stock had a trading volume of 125,528 shares, compared to its average volume of 258,310. The firm has a 50-day simple moving average of $475.48 and a 200-day simple moving average of $449.37. The firm has a market capitalization of $23.73 billion, a P/E ratio of 29.59, a PEG ratio of 3.24 and a beta of 1.01. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $518.85. The company has a quick ratio of 1.35, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the prior year, the business posted $5.44 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Teledyne Technologies will post 21.3 EPS for the current year.

Insider Activity

In other news, Chairman Robert Mehrabian sold 3,925 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares in the company, valued at $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares in the company, valued at $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,116 shares of company stock worth $33,505,935 over the last quarter. Insiders own 2.14% of the company's stock.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDY. State Street Corp lifted its position in Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock valued at $893,219,000 after purchasing an additional 37,884 shares during the period. Janus Henderson Group PLC grew its holdings in Teledyne Technologies by 0.6% in the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock valued at $748,167,000 after purchasing an additional 9,368 shares during the period. Geode Capital Management LLC raised its stake in shares of Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company's stock worth $520,335,000 after buying an additional 28,224 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock valued at $503,338,000 after buying an additional 64,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Teledyne Technologies by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 291,279 shares of the scientific and technical instruments company's stock valued at $127,481,000 after acquiring an additional 2,206 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Company Profile

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.