Zacks Investment Research upgraded shares of Teledyne Technologies Incorporated (NYSE:TDY) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $166.00 price target on the scientific and technical instruments company’s stock.
According to Zacks, “Teledyne Technologies Inc. is a leading provider of sophisticated electronic and communication products, systems engineering solutions and information technology services, and aerospace engines and components. The company customers include aerospace prime contractors, general aviation companies, government agencies and major communications and other commercial companies. “
Several other research firms have also recently issued reports on TDY. Jefferies Group LLC reiterated a hold rating and set a $140.00 target price on shares of Teledyne Technologies in a research report on Tuesday, June 6th. Needham & Company LLC upgraded Teledyne Technologies from a hold rating to a buy rating and set a $148.00 target price on the stock in a research report on Wednesday, July 5th. Finally, BidaskClub upgraded Teledyne Technologies from a sell rating to a hold rating in a research report on Tuesday, June 20th.
Shares of Teledyne Technologies (NYSE:TDY) traded down 0.14% during trading on Tuesday, reaching $144.77. The company’s stock had a trading volume of 130,675 shares. The firm has a market capitalization of $5.12 billion, a P/E ratio of 26.69 and a beta of 0.98. Teledyne Technologies has a 52 week low of $101.90 and a 52 week high of $148.62. The company has a 50 day moving average price of $135.53 and a 200 day moving average price of $131.02.
Teledyne Technologies (NYSE:TDY) last released its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.49. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The company had revenue of $671.10 million for the quarter, compared to analysts’ expectations of $636.18 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. On average, equities research analysts expect that Teledyne Technologies will post $5.69 EPS for the current fiscal year.
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In other news, Director Simon M. Lorne sold 3,617 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $129.29, for a total transaction of $467,641.93. Following the sale, the director now owns 30,190 shares of the company’s stock, valued at approximately $3,903,265.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Vanwees sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $147.07, for a total value of $882,420.00. Following the sale, the senior vice president now directly owns 35,159 shares in the company, valued at approximately $5,170,834.13. The disclosure for this sale can be found here. Insiders have sold a total of 25,207 shares of company stock worth $3,459,722 in the last three months. Corporate insiders own 3.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Neuburgh Advisers LLC raised its stake in shares of Teledyne Technologies by 17.7% in the first quarter. Neuburgh Advisers LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $148,000 after buying an additional 176 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Teledyne Technologies by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 1,188 shares of the scientific and technical instruments company’s stock valued at $149,000 after buying an additional 29 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Teledyne Technologies by 15.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock valued at $169,000 after buying an additional 177 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of Teledyne Technologies by 17.7% in the first quarter. Glen Harbor Capital Management LLC now owns 1,606 shares of the scientific and technical instruments company’s stock valued at $203,000 after buying an additional 242 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $219,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Teledyne Technologies Company Profile
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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