Teledyne Technologies Incorporated (NYSE:TDY) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $531.00.

TDY has been the subject of a number of recent research reports. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, TD Cowen raised their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares in the company, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,683 shares of company stock worth $38,943,649 in the last quarter. 1.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds have recently made changes to their positions in the business. Crestwood Advisors Group LLC raised its stake in shares of Teledyne Technologies by 18.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 597 shares of the scientific and technical instruments company’s stock valued at $277,000 after acquiring an additional 94 shares during the period. World Equity Group Inc. purchased a new position in shares of Teledyne Technologies in the 4th quarter valued at $222,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Teledyne Technologies by 46.9% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,039 shares of the scientific and technical instruments company’s stock valued at $9,301,000 after acquiring an additional 6,400 shares during the period. Cohen Capital Management Inc. raised its stake in shares of Teledyne Technologies by 58.5% in the 4th quarter. Cohen Capital Management Inc. now owns 11,952 shares of the scientific and technical instruments company’s stock valued at $5,547,000 after acquiring an additional 4,412 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its stake in shares of Teledyne Technologies by 1.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,130 shares of the scientific and technical instruments company’s stock valued at $1,917,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 1.3 %

Shares of TDY opened at $514.27 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $478.88 and a 200-day simple moving average of $453.38. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $522.50. The stock has a market cap of $23.97 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 3.21 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the company posted $5.44 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Teledyne Technologies will post 21.51 EPS for the current fiscal 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.