Teledyne Technologies (NYSE:TDY) Earns “Buy” Rating from TD Securities

Teledyne Technologies (NYSE:TDY)‘s stock had its “buy” rating reissued by equities research analysts at TD Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $550.00 target price on the scientific and technical instruments company’s stock. TD Securities’ price objective points to a potential upside of 19.85% from the stock’s current price.

A number of other brokerages have also commented on TDY. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 16th. 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 report on Monday, March 17th. Finally, Needham & Company LLC dropped their price objective on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a report on Thursday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $542.50.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $458.92 on Thursday. Teledyne Technologies has a 52 week low of $372.96 and a 52 week high of $522.50. The stock has a market capitalization of $21.49 billion, a PE ratio of 26.63, a PEG ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock’s fifty day moving average is $482.32 and its 200-day moving average is $478.58.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. Equities research analysts expect that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction dated 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 transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,518 shares of company stock valued at $11,586,295 in the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Trading of Teledyne Technologies

Several hedge funds have recently bought and sold shares of TDY. Golden State Wealth Management LLC raised its holdings in shares of Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 35 shares during the period. Quarry LP acquired a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $28,000. NBC Securities Inc. bought a new stake in shares of Teledyne Technologies in the first quarter valued at about $28,000. Hurley Capital LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth about $33,000. Finally, Ancora Advisors LLC grew its holdings in shares of Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 50 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.