Teledyne Technologies Incorporated (NYSE:TDY)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $145.00 target price on the scientific and technical instruments company’s stock, up from their prior target price of $140.00. Jefferies Group LLC’s price objective indicates a potential upside of 7.89% from the company’s previous close.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 6th. BidaskClub lowered Teledyne Technologies from a “hold” rating to a “sell” rating in a report on Friday, June 9th. Finally, Needham & Company LLC upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a report on Wednesday, July 5th.
Shares of Teledyne Technologies (TDY) traded down 0.95% on Friday, hitting $134.39. The stock had a trading volume of 235,870 shares. Teledyne Technologies has a 52-week low of $101.90 and a 52-week high of $137.00. The company has a market cap of $4.74 billion, a P/E ratio of 26.40 and a beta of 0.98. The company has a 50-day moving average of $129.59 and a 200-day moving average of $128.14.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, May 4th. The scientific and technical instruments company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.51. The firm had revenue of $566.10 million during the quarter, compared to analyst estimates of $539.40 million. Teledyne Technologies had a return on equity of 13.28% and a net margin of 8.31%. Teledyne Technologies’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share. On average, equities analysts anticipate that Teledyne Technologies will post $5.27 EPS for the current fiscal year.
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In other Teledyne Technologies news, Chairman Robert Mehrabian acquired 10,000 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, June 8th. The stock was bought at an average price of $129.41 per share, with a total value of $1,294,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael T. Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $134.72, for a total transaction of $404,160.00. Following the completion of the transaction, the director now directly owns 33,806 shares of the company’s stock, valued at approximately $4,554,344.32. The disclosure for this sale can be found here. Insiders sold 15,207 shares of company stock valued at $1,992,502 in the last three months. 3.30% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Credit Agricole S A acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $330,000. Envestnet Asset Management Inc. acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $142,000. A.R.T. Advisors LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $332,000. AQR Capital Management LLC increased its position in shares of Teledyne Technologies by 90.2% in the fourth quarter. AQR Capital Management LLC now owns 32,060 shares of the scientific and technical instruments company’s stock worth $3,943,000 after buying an additional 15,203 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Teledyne Technologies by 11.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,010 shares of the scientific and technical instruments company’s stock worth $739,000 after buying an additional 600 shares during the period. 83.57% of the stock is owned by institutional investors.
About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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