BidaskClub upgraded shares of Teledyne Technologies Incorporated (NYSE:TDY) from a hold rating to a buy rating in a research report released on Tuesday morning.
TDY has been the topic of several other research reports. Zacks Investment Research upgraded Teledyne Technologies from a hold rating to a buy rating and set a $147.00 price target on the stock in a research report on Friday, June 2nd. Needham & Company LLC upgraded Teledyne Technologies from a hold rating to a buy rating and set a $148.00 price target on the stock in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC restated a hold rating and issued a $140.00 price target on shares of Teledyne Technologies in a research report on Monday, May 15th.
Shares of Teledyne Technologies (NYSE:TDY) traded up 0.39% on Tuesday, hitting $145.55. The stock had a trading volume of 56,770 shares. The stock has a 50 day moving average price of $135.02 and a 200-day moving average price of $130.86. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 26.83 and a beta of 0.98. Teledyne Technologies has a 12-month low of $101.90 and a 12-month high of $148.62.
Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.49. The firm had revenue of $671.10 million for the quarter, compared to analysts’ expectations of $636.18 million. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, equities analysts expect that Teledyne Technologies will post $5.69 earnings per share for the current year.
In related news, Director Simon M. Lorne sold 3,617 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $129.29, for a total value of $467,641.93. Following the transaction, the director now owns 30,190 shares in the company, valued at approximately $3,903,265.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul David Miller sold 4,590 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $130.00, for a total value of $596,700.00. Following the completion of the transaction, the director now owns 21,992 shares in the company, valued at approximately $2,858,960. The disclosure for this sale can be found here. Insiders sold a total of 25,207 shares of company stock worth $3,459,722 in the last 90 days. 3.30% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Liberty Mutual Group Asset Management Inc. boosted its position in Teledyne Technologies by 5.9% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 15,977 shares of the scientific and technical instruments company’s stock valued at $2,020,000 after buying an additional 889 shares during the last quarter. Ironwood Investment Management LLC boosted its position in Teledyne Technologies by 1.2% in the first quarter. Ironwood Investment Management LLC now owns 2,693 shares of the scientific and technical instruments company’s stock valued at $341,000 after buying an additional 32 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Teledyne Technologies by 4.0% in the first quarter. Ameriprise Financial Inc. now owns 135,005 shares of the scientific and technical instruments company’s stock valued at $17,074,000 after buying an additional 5,212 shares during the last quarter. Vanguard Group Inc. boosted its position in Teledyne Technologies by 6.0% in the first quarter. Vanguard Group Inc. now owns 2,671,329 shares of the scientific and technical instruments company’s stock valued at $337,816,000 after buying an additional 151,201 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Teledyne Technologies by 0.8% in the first quarter. Retirement Systems of Alabama now owns 45,465 shares of the scientific and technical instruments company’s stock valued at $5,750,000 after buying an additional 343 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.
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.
Receive News & Ratings for Teledyne Technologies Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teledyne Technologies Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
