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

StockNews.com upgraded shares of Teledyne Technologies (NYSE:TDYFree Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

Separately, Needham & Company LLC cut their target price on Teledyne Technologies from $522.00 to $510.00 and set a buy rating for the company in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $515.67.

Get Our Latest Stock Analysis on Teledyne Technologies

Teledyne Technologies Stock Down 1.6 %

NYSE TDY opened at $427.07 on Friday. The business has a fifty day moving average price of $429.97 and a 200 day moving average price of $409.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. The company has a market cap of $20.15 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.80 and a beta of 1.03. Teledyne Technologies has a one year low of $364.98 and a one year high of $448.71.

Teledyne Technologies (NYSE:TDYGet Free Report) last released its earnings results on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.40. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.46 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business’s revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $4.94 EPS. Research analysts anticipate that Teledyne Technologies will post 20.51 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the transaction, the director now owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the sale, the director now owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The disclosure for this sale can be found here. Insiders have sold 75,277 shares of company stock worth $31,130,219 over the last quarter. 2.14% of the stock is currently owned by company insiders.

Institutional Trading of Teledyne Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aristotle Capital Management LLC purchased a new stake in Teledyne Technologies during the 3rd quarter worth approximately $698,325,000. Norges Bank purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth $243,111,000. Point72 Asset Management L.P. raised its stake in shares of Teledyne Technologies by 2,227.3% in the second quarter. Point72 Asset Management L.P. now owns 317,251 shares of the scientific and technical instruments company’s stock valued at $130,425,000 after acquiring an additional 303,619 shares in the last quarter. Durable Capital Partners LP acquired a new stake in shares of Teledyne Technologies in the first quarter valued at $140,332,000. Finally, BlackRock Inc. boosted its holdings in Teledyne Technologies by 5.4% in the second quarter. BlackRock Inc. now owns 3,856,247 shares of the scientific and technical instruments company’s stock valued at $1,585,342,000 after purchasing an additional 196,915 shares during the period. 87.57% of the stock is currently owned by hedge funds and other institutional investors.

About Teledyne Technologies

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Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. 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.

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