Bank of America Issues Positive Forecast for Teledyne Technologies (NYSE:TDY) Stock Price

Teledyne Technologies (NYSE:TDY) had its price target increased by Bank of America from $550.00 to $600.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $548.00.

Teledyne Technologies Price Performance

Shares of TDY opened at $500.35 on Monday. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a market capitalization of $23.43 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm has a 50 day moving average of $495.59 and a 200 day moving average of $471.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.44 EPS. As a group, equities research analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Michael T. Smith sold 2,100 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $510.50, for a total value of $1,072,050.00. Following the transaction, the director now owns 52,835 shares of the company’s stock, valued at $26,972,267.50. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 in the last three months. 2.14% of the stock is currently owned by company insiders.

Institutional Trading of Teledyne Technologies

Several institutional investors have recently made changes to their positions in TDY. Vanguard Group Inc. lifted its holdings in shares of Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock worth $2,604,922,000 after buying an additional 46,479 shares in the last quarter. State Street Corp lifted its stake in Teledyne Technologies by 1.9% in the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Teledyne Technologies by 0.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company’s stock valued at $799,734,000 after purchasing an additional 13,607 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 1.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,316,360 shares of the scientific and technical instruments company’s stock valued at $610,962,000 after purchasing an additional 20,165 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Teledyne Technologies by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after purchasing an additional 28,224 shares in the last quarter. Hedge funds and other institutional investors 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.