Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Teledyne Technologies’ rating score has improved by 20% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 12 month consensus price objective of $245.33 for the company and are forecasting that the company will post $1.92 earnings per share for the current quarter, according to Zacks. Zacks has also given Teledyne Technologies an industry rank of 33 out of 255 based on the ratings given to related companies.
Several research analysts recently weighed in on TDY shares. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 price target for the company in a research report on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and issued a $248.00 price objective (up from $240.00) on shares of Teledyne Technologies in a research report on Friday, March 15th. Finally, Cowen initiated coverage on Teledyne Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $265.00 price objective for the company.
In related news, Director Paul David Miller sold 10,030 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $225.00, for a total transaction of $2,256,750.00. Following the completion of the sale, the director now directly owns 21,653 shares in the company, valued at $4,871,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 551 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $235.05, for a total value of $129,512.55. Following the sale, the director now owns 36,638 shares of the company’s stock, valued at $8,611,761.90. The disclosure for this sale can be found here. Insiders sold 41,003 shares of company stock valued at $9,212,822 over the last 90 days. Company insiders own 3.19% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Teledyne Technologies by 5.8% during the fourth quarter. BlackRock Inc. now owns 3,860,980 shares of the scientific and technical instruments company’s stock worth $799,492,000 after buying an additional 210,116 shares during the last quarter. Vanguard Group Inc boosted its stake in Teledyne Technologies by 3.3% during the third quarter. Vanguard Group Inc now owns 3,054,919 shares of the scientific and technical instruments company’s stock worth $753,588,000 after buying an additional 96,848 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Teledyne Technologies by 8.9% during the fourth quarter. Westfield Capital Management Co. LP now owns 667,232 shares of the scientific and technical instruments company’s stock worth $138,164,000 after buying an additional 54,400 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Teledyne Technologies by 107.7% in the 3rd quarter. AQR Capital Management LLC now owns 550,136 shares of the scientific and technical instruments company’s stock valued at $135,708,000 after purchasing an additional 285,208 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Teledyne Technologies by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 510,548 shares of the scientific and technical instruments company’s stock valued at $105,718,000 after purchasing an additional 4,786 shares during the last quarter. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Shares of Teledyne Technologies stock traded down $1.38 on Wednesday, reaching $251.05. 2,952 shares of the stock were exchanged, compared to its average volume of 166,348. The company has a quick ratio of 1.04, a current ratio of 1.55 and a debt-to-equity ratio of 0.27. Teledyne Technologies has a twelve month low of $177.68 and a twelve month high of $254.84. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 3.59 and a beta of 1.10.
Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 23rd. The scientific and technical instruments company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.27. The firm had revenue of $748.40 million during the quarter, compared to the consensus estimate of $728.04 million. Teledyne Technologies had a return on equity of 14.97% and a net margin of 11.50%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Research analysts anticipate that Teledyne Technologies will post 9.38 EPS for the current fiscal year.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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