Teledyne Technologies (NYSE:TDY) Cut to Hold at StockNews.com

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

TDY has been the topic of a number of other research reports. TD Cowen cut their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC cut their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $498.43.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock traded up $14.56 on Thursday, hitting $377.06. 684,295 shares of the company were exchanged, compared to its average volume of 232,589. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The stock has a market capitalization of $17.87 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a 50-day moving average price of $417.57 and a 200 day moving average price of $414.64. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company posted $4.53 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the sale, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael T. Smith sold 511 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock worth $2,890,621 over the last 90 days. Corporate insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after buying an additional 77,890 shares in the last quarter. Aristotle Capital Management LLC purchased a new position in shares of Teledyne Technologies during the 3rd quarter worth approximately $698,325,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Teledyne Technologies by 26.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock worth $379,977,000 after purchasing an additional 193,544 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock worth $376,965,000 after purchasing an additional 151,659 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of Teledyne Technologies by 1.6% during the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock worth $273,586,000 after purchasing an additional 9,843 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.