Teledyne Technologies (NYSE:TDY) Upgraded by StockNews.com to “Buy”

Teledyne Technologies (NYSE:TDY) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

TDY has been the subject of several other reports. The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $423.00 to $495.00 in a report on Monday, August 14th. Needham & Company LLC reiterated a “buy” rating and set a $455.00 target price on shares of Teledyne Technologies in a report on Tuesday, October 24th. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Wednesday, September 27th. They set a “buy” rating and a $495.00 target price for the company. Finally, BNP Paribas assumed coverage on shares of Teledyne Technologies in a report on Thursday, October 5th. They set an “outperform” rating and a $530.00 target price for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $503.86.

Teledyne Technologies Trading Up 0.1 %

Shares of NYSE TDY traded up $0.49 during trading hours on Monday, hitting $390.98. The company’s stock had a trading volume of 165,670 shares, compared to its average volume of 240,275. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.10 and a current ratio of 1.68. Teledyne Technologies has a 12 month low of $364.98 and a 12 month high of $448.71. The business has a 50-day simple moving average of $397.09 and a 200-day simple moving average of $401.41. The stock has a market cap of $18.45 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 2.51 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $5.05 EPS for the quarter, topping the consensus estimate of $4.76 by $0.29. Teledyne Technologies had a net margin of 14.02% and a return on equity of 10.86%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business posted $4.54 earnings per share. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Teledyne Technologies will post 19.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert Mehrabian sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the completion of the transaction, the chief executive officer now directly owns 196,052 shares in the company, valued at approximately $81,583,118.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Teledyne Technologies news, VP Melanie Susan Cibik sold 13,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $422.40, for a total value of $5,491,200.00. Following the completion of the sale, the vice president now owns 27,305 shares of the company’s stock, valued at approximately $11,533,632. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert Mehrabian sold 45,500 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the completion of the sale, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at approximately $81,583,118.76. The disclosure for this sale can be found here. Insiders sold a total of 62,717 shares of company stock worth $26,140,340 in the last three months. Insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of large investors have recently added to or reduced their stakes in TDY. Aristotle Capital Management LLC bought a new stake in Teledyne Technologies in the 3rd quarter worth approximately $698,325,000. Envestnet Asset Management Inc. grew its position in Teledyne Technologies by 2,240.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,465,581 shares of the scientific and technical instruments company’s stock worth $26,033,000 after purchasing an additional 1,402,965 shares during the period. Norges Bank bought a new stake in Teledyne Technologies in the 4th quarter worth approximately $166,954,000. Point72 Asset Management L.P. grew its position in Teledyne Technologies by 2,227.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 317,251 shares of the scientific and technical instruments company’s stock worth $130,425,000 after purchasing an additional 303,619 shares during the period. Finally, Durable Capital Partners LP bought a new stake in Teledyne Technologies in the 1st quarter worth approximately $140,332,000. Institutional investors own 87.57% 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, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.