Teledyne Technologies (NYSE:TDY) Given Buy Rating at TD Securities

TD Securities restated their buy rating on shares of Teledyne Technologies (NYSE:TDY) in a report released on Thursday,Benzinga reports. They currently have a $550.00 price objective on the scientific and technical instruments company’s stock.

TDY has been the subject of several other research reports. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 16th. Needham & Company LLC decreased their target price on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Bank of America raised their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $542.50.

Teledyne Technologies Price Performance

Shares of TDY opened at $459.39 on Thursday. The stock has a market cap of $21.52 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies has a 1 year low of $361.46 and a 1 year high of $522.50. The stock’s 50-day moving average price is $483.08 and its two-hundred day moving average price is $478.46. 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 (NYSE:TDY) last announced its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.92 by $0.03. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. During the same period last year, the company posted $4.55 EPS. On average, equities analysts predict that Teledyne Technologies will post 21.55 earnings per share for the current year.

Insider Activity

In other news, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s 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 completion of the transaction, the insider now directly owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,518 shares of company stock worth $11,586,295 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Large investors have recently modified their holdings of the business. Golden State Wealth Management LLC increased its position in shares of Teledyne Technologies by 205.9% in the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. Quarry LP acquired a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $28,000. NBC Securities Inc. bought a new stake in shares of Teledyne Technologies during the 1st quarter worth approximately $28,000. Hurley Capital LLC acquired a new position in Teledyne Technologies during the fourth quarter worth $33,000. Finally, Ancora Advisors LLC raised its position in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 50 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.