Teledyne Technologies (NYSE:TDY) Upgraded to Buy at StockNews.com

Teledyne Technologies (NYSE:TDY - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

Several other equities analysts also recently weighed in on the company. Bank of America raised their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. Needham & Company LLC restated a "buy" rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has an average rating of "Buy" and a consensus target price of $548.00.

Teledyne Technologies Stock Down 2.6 %

Shares of TDY stock traded down $11.94 during mid-day trading on Wednesday, reaching $450.25. 70,678 shares of the company's stock traded hands, compared to its average volume of 258,951. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company's 50-day moving average price is $486.27 and its 200-day moving average price is $478.54. The company has a market cap of $21.09 billion, a P/E ratio of 26.13, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts' consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.44 earnings per share. On average, equities analysts expect that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction 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 transaction, the vice president now directly owns 4,962 shares of the company's stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO George C. Bobb III sold 6,308 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. purchased a new position in shares of Teledyne Technologies during the 1st quarter worth $28,000. Quarry LP purchased a new stake in Teledyne Technologies in the fourth quarter worth about $28,000. Hurley Capital LLC bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $33,000. Ancora Advisors LLC grew its stake in shares of Teledyne Technologies by 192.3% during the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the period. Finally, City Holding Co. purchased a new stake in Teledyne Technologies in the 1st quarter worth approximately $38,000. 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.