StockNews.com Downgrades Teledyne Technologies (NYSE:TDY) to Hold

Teledyne Technologies (NYSE:TDY - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

Several other equities analysts have also recently weighed in on TDY. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price for the company. Finally, Bank of America boosted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $548.00.

Teledyne Technologies Stock Down 1.8 %

Shares of NYSE TDY traded down $8.05 during midday trading on Wednesday, reaching $428.53. The company's stock had a trading volume of 168,442 shares, compared to its average volume of 256,421. The stock has a 50 day simple moving average of $499.21 and a 200-day simple moving average of $477.07. 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 has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 3.14 and a beta of 1.03.

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Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data 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. The firm 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 business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.44 earnings per share. Equities research analysts predict that Teledyne Technologies will post 21.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the business'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 completion of the sale, the chief operating officer now directly owns 10,482 shares in the company, 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 sold a total of 34,571 shares of company stock valued at $17,709,721 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Teledyne Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. raised its stake 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 during the last quarter. Ironwood Investment Management LLC grew its stake in Teledyne Technologies by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company's stock valued at $1,335,000 after acquiring an additional 22 shares during the period. Tidal Investments LLC raised its holdings in Teledyne Technologies by 0.4% during the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock worth $2,556,000 after buying an additional 22 shares during the last quarter. Keel Point LLC lifted its stake in shares of Teledyne Technologies by 4.5% in the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company's stock valued at $247,000 after buying an additional 23 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in shares of Teledyne Technologies by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company's stock valued at $2,884,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds 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.