Teledyne Technologies (NYSE:TDY) Stock Rating Upgraded by StockNews.com

Teledyne Technologies (NYSE:TDY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other research analysts have also commented on the stock. Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Bank of America upped their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Finally, TD Securities reiterated a “buy” rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $542.50.

Teledyne Technologies Stock Up 0.6 %

TDY stock opened at $484.62 on Friday. The company’s 50 day moving average is $476.89 and its two-hundred day moving average is $480.41. Teledyne Technologies has a twelve month low of $380.63 and a twelve month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a market cap of $22.71 billion, a P/E ratio of 28.13, a PEG ratio of 3.14 and a beta of 1.06.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.03. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.55 EPS. Research analysts expect that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TDY. Stratos Wealth Partners LTD. grew its holdings in Teledyne Technologies by 4.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after purchasing an additional 21 shares during the last quarter. Ironwood Investment Management LLC grew its stake in Teledyne Technologies by 0.8% in the 4th quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock valued at $1,335,000 after acquiring an additional 22 shares during the last quarter. Tidal Investments LLC increased its holdings in Teledyne Technologies by 0.4% during the 4th quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company’s stock valued at $2,556,000 after acquiring an additional 22 shares in the last quarter. Keel Point LLC raised its position in Teledyne Technologies by 4.5% during the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock worth $247,000 after acquiring an additional 23 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Teledyne Technologies by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,538 shares of the scientific and technical instruments company’s stock valued at $3,254,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.