Teledyne Technologies Incorporated (NYSE:TDY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $470.83.

TDY has been the subject of several research reports. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $490.00 to $400.00 in a research note on Friday, April 26th. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. TD Cowen decreased their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th.

Teledyne Technologies Trading Up 0.4 %

NYSE:TDY opened at $402.49 on Monday. The company has a 50-day moving average price of $404.23 and a 200-day moving average price of $415.87. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28. The stock has a market cap of $19.07 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.83 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.53 earnings per share. Equities analysts predict that Teledyne Technologies will post 19.36 EPS for the current year.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

Large investors have recently made changes to their positions in the stock. Cetera Advisors LLC boosted its holdings in shares of Teledyne Technologies by 146.3% in the first quarter. Cetera Advisors LLC now owns 1,441 shares of the scientific and technical instruments company’s stock worth $619,000 after buying an additional 856 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Teledyne Technologies by 345.9% in the first quarter. Cetera Investment Advisers now owns 8,708 shares of the scientific and technical instruments company’s stock worth $3,739,000 after buying an additional 6,755 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Teledyne Technologies by 29.5% in the first quarter. Atria Investments Inc now owns 14,231 shares of the scientific and technical instruments company’s stock worth $6,110,000 after buying an additional 3,242 shares during the last quarter. Swedbank AB purchased a new position in shares of Teledyne Technologies in the first quarter worth approximately $6,953,000. Finally, Tidal Investments LLC boosted its holdings in shares of Teledyne Technologies by 131.5% in the first quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock worth $1,604,000 after buying an additional 2,123 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

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.