Zacks Investment Research cut shares of Teledyne Technologies (NYSE:TDY) from a strong-buy rating to a hold rating in a research report released on Friday, January 5th.
According to Zacks, “Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics in the United States, Canada and internationally. 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. Digital Imaging segment includes sensors, cameras and systems, within the visible, infrared, ultraviolet and X-ray spectra. Aerospace and Defense Electronics segment provides electronic components and subsystems and communications products, including defense electronics. Engineered Systems segment provides systems engineering and integration and technology development, as well as manufacturing solutions. The company markets and sells its products and services through sales forces, third-party distributors, and commissioned sales representatives. “
A number of other equities analysts have also weighed in on the company. Jefferies Group lifted their price objective on Teledyne Technologies from $150.00 to $170.00 and gave the company a hold rating in a research note on Friday, November 3rd. ValuEngine upgraded Teledyne Technologies from a hold rating to a buy rating in a research report on Friday, September 8th. Finally, Needham & Company LLC raised their target price on Teledyne Technologies from $157.00 to $190.00 and gave the company a buy rating in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Teledyne Technologies has an average rating of Hold and an average price target of $175.33.
Teledyne Technologies (TDY) traded up $4.58 during trading on Friday, hitting $193.28. The stock had a trading volume of 131,411 shares, compared to its average volume of 153,122. The firm has a market cap of $6,686.87, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.54 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.98 and a quick ratio of 1.16. Teledyne Technologies has a 52-week low of $119.67 and a 52-week high of $193.62.
Teledyne Technologies (NYSE:TDY) last issued its earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.34. The company had revenue of $662.20 million during the quarter, compared to analyst estimates of $656.20 million. Teledyne Technologies had a return on equity of 14.18% and a net margin of 8.67%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. equities research analysts forecast that Teledyne Technologies will post 6.7 EPS for the current year.
In other news, CFO Sue Main sold 7,000 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $183.88, for a total transaction of $1,287,160.00. Following the sale, the chief financial officer now owns 40,874 shares of the company’s stock, valued at approximately $7,515,911.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jason Vanwees sold 4,500 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $182.83, for a total transaction of $822,735.00. Following the sale, the senior vice president now directly owns 33,659 shares in the company, valued at approximately $6,153,874.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,364 shares of company stock worth $4,643,847. 3.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in shares of Teledyne Technologies by 1,204.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,304 shares of the scientific and technical instruments company’s stock worth $166,000 after acquiring an additional 1,204 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Teledyne Technologies by 15.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock worth $169,000 after acquiring an additional 177 shares during the period. ETF Managers Group LLC purchased a new stake in shares of Teledyne Technologies during the second quarter worth $181,000. Zions Bancorporation purchased a new stake in shares of Teledyne Technologies during the third quarter worth $220,000. Finally, AMP Capital Investors Ltd purchased a new stake in shares of Teledyne Technologies during the third quarter worth $223,000. 84.07% of the stock is currently owned by institutional investors.
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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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