Teledyne Technologies (NYSE:TDY – Get Rating) had its price target lowered by equity research analysts at Credit Suisse Group from $503.00 to $499.00 in a report released on Friday, The Fly reports. Credit Suisse Group’s price objective would indicate a potential upside of 20.42% from the stock’s current price.
TDY has been the topic of several other reports. StockNews.com started coverage on shares of Teledyne Technologies in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Needham & Company LLC dropped their target price on shares of Teledyne Technologies from $498.00 to $470.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $485.67.
Teledyne Technologies Trading Up 0.8 %
NYSE TDY opened at $414.40 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.94 and a debt-to-equity ratio of 0.42. Teledyne Technologies has a 52 week low of $325.00 and a 52 week high of $452.95. The stock has a market capitalization of $19.47 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 3.16 and a beta of 1.08. The firm has a 50 day moving average of $427.76 and a two-hundred day moving average of $413.02.
Teledyne Technologies (NYSE:TDY – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $0.10. Teledyne Technologies has a return on equity of 10.98% and a net margin of 13.67%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the firm earned $4.27 earnings per share. Teledyne Technologies’ quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Teledyne Technologies will post 19.16 EPS for the current fiscal year.
Insider Buying and Selling at Teledyne Technologies
In other Teledyne Technologies news, VP Stephen Finis Blackwood sold 3,333 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $434.00, for a total value of $1,446,522.00. Following the completion of the sale, the vice president now owns 11,773 shares in the company, valued at $5,109,482. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Stephen Finis Blackwood sold 3,333 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the transaction, the vice president now owns 11,773 shares of the company’s stock, valued at $5,109,482. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP George C. Bobb III sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $433.12, for a total value of $4,331,200.00. Following the transaction, the senior vice president now directly owns 10,490 shares in the company, valued at approximately $4,543,428.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,210 shares of company stock worth $8,741,594. 2.14% of the stock is owned by insiders.
Hedge Funds Weigh In On Teledyne Technologies
A number of hedge funds and other institutional investors have recently bought and sold shares of TDY. Price T Rowe Associates Inc. MD lifted its stake in shares of Teledyne Technologies by 29.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,876,353 shares of the scientific and technical instruments company’s stock worth $2,350,012,000 after acquiring an additional 1,339,098 shares during the period. Norges Bank purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $166,954,000. Durable Capital Partners LP purchased a new stake in shares of Teledyne Technologies in the first quarter valued at approximately $140,332,000. Findlay Park Partners LLP acquired a new stake in Teledyne Technologies in the third quarter valued at $67,821,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Teledyne Technologies by 60.4% in the first quarter. Goldman Sachs Group Inc. now owns 337,996 shares of the scientific and technical instruments company’s stock valued at $159,746,000 after acquiring an additional 127,218 shares during the period. 91.10% of the stock is currently owned by hedge funds and other institutional investors.
About Teledyne Technologies
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Teledyne Technologies, Inc. engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.
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