Teledyne Technologies (NYSE:TDY) Upgraded to Buy at StockNews.com

Teledyne Technologies (NYSE:TDY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

TDY has been the topic of several other reports. Needham & Company LLC decreased their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. TD Securities reissued a “buy” rating and set a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Bank of America increased their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $542.50.

Teledyne Technologies Stock Up 0.6 %

Shares of NYSE TDY opened at $484.62 on Friday. The firm has a market cap of $22.71 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies has a 1 year low of $380.63 and a 1 year high of $522.50. The firm’s 50 day moving average price is $476.89 and its 200 day moving average price is $480.41.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.03. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 earnings per share. As a group, sell-side analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now directly 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 currently owned by insiders.

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in shares of Teledyne Technologies by 1.5% during the 1st quarter. Deutsche Bank AG now owns 176,165 shares of the scientific and technical instruments company’s stock valued at $87,679,000 after buying an additional 2,519 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Teledyne Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 315,911 shares of the scientific and technical instruments company’s stock worth $157,232,000 after acquiring an additional 13,332 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Teledyne Technologies in the 1st quarter valued at about $569,000. Vanguard Group Inc. lifted its position in shares of Teledyne Technologies by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company’s stock worth $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. Finally, Intrust Bank NA grew its stake in Teledyne Technologies by 6.9% in the first quarter. Intrust Bank NA now owns 700 shares of the scientific and technical instruments company’s stock worth $348,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.