Teledyne Technologies Incorporated (NYSE:TDY) Given Average Rating of “Buy” by Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $542.50.

Several brokerages have recently commented on TDY. Needham & Company LLC cut their price target on 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 raised their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. TD Securities restated a “buy” rating and set a $550.00 price target on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 9th.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. The trade was 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 Teledyne Technologies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Teledyne Technologies by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company’s stock valued at $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Teledyne Technologies by 0.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company’s stock worth $799,734,000 after acquiring an additional 13,607 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Teledyne Technologies by 10.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company’s stock worth $726,369,000 after acquiring an additional 143,062 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth about $306,042,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.9%

NYSE:TDY opened at $495.75 on Friday. Teledyne Technologies has a twelve month low of $380.63 and a twelve month high of $522.50. The company has a market cap of $23.23 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. The stock has a fifty day simple moving average of $477.32 and a 200-day simple moving average of $480.98. 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 released its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $4.55 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Teledyne Technologies will post 21.55 EPS for the current year.

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.