Teledyne Technologies Incorporated (NYSE:TDY) had its target price raised by Jefferies Group LLC from $150.00 to $170.00 in a report released on Friday. They currently have a hold rating on the scientific and technical instruments company’s stock.
Several other equities analysts have also commented on TDY. Needham & Company LLC upped their target price on Teledyne Technologies from $157.00 to $190.00 and gave the company a buy rating in a report on Friday. BidaskClub raised Teledyne Technologies from a hold rating to a buy rating in a report on Tuesday, August 8th. ValuEngine lowered Teledyne Technologies from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Zacks Investment Research downgraded Teledyne Technologies from a strong-buy rating to a hold rating in a research report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $175.33.
Teledyne Technologies (NYSE TDY) opened at $182.40 on Friday. The firm has a market cap of $6,444.85, a P/E ratio of 27.59, a P/E/G ratio of 3.64 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 1.98 and a debt-to-equity ratio of 0.64.
Teledyne Technologies (NYSE:TDY) last posted its earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ 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 business’s revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 earnings per share. sell-side analysts predict that Teledyne Technologies will post 6.68 EPS for the current fiscal year.
In other news, Director Roxanne S. Austin sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $148.30, for a total transaction of $593,200.00. Following the completion of the transaction, the director now directly owns 11,458 shares in the company, valued at $1,699,221.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in Teledyne Technologies by 17.5% in the second quarter. Legal & General Group Plc now owns 38,093 shares of the scientific and technical instruments company’s stock worth $4,861,000 after purchasing an additional 5,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Teledyne Technologies by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,045,183 shares of the scientific and technical instruments company’s stock worth $133,417,000 after purchasing an additional 16,136 shares during the period. SG Americas Securities LLC lifted its position in Teledyne Technologies by 37.8% in the second quarter. SG Americas Securities LLC now owns 9,676 shares of the scientific and technical instruments company’s stock worth $1,235,000 after purchasing an additional 2,655 shares during the period. Goldman Sachs Group Inc. lifted its position in Teledyne Technologies by 56.2% in the second quarter. Goldman Sachs Group Inc. now owns 212,871 shares of the scientific and technical instruments company’s stock worth $27,173,000 after purchasing an additional 76,567 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new stake in Teledyne Technologies in the second quarter worth approximately $4,578,000. Hedge funds and other institutional investors own 83.11% 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.
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