Zacks: Teledyne Technologies Incorporated (TDY) Receives Average Rating of “Hold” from Analysts

Teledyne Technologies Incorporated (NYSE:TDY) has received a consensus broker rating score of 2.50 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.

Brokers have set a twelve-month consensus target price of $180.00 for the company and are predicting that the company will post $1.74 EPS for the current quarter, according to Zacks. Zacks has also assigned Teledyne Technologies an industry rank of 108 out of 265 based on the ratings given to its competitors.

TDY has been the topic of a number of recent analyst reports. Jefferies Group reaffirmed a “hold” rating and set a $150.00 price target (up from $145.00) on shares of Teledyne Technologies in a research report on Wednesday, August 9th. Needham & Company LLC upped their price target on Teledyne Technologies from $157.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. ValuEngine raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Zacks Investment Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BidaskClub raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.

Teledyne Technologies (TDY) opened at $183.49 on Friday. The company has a market cap of $6,599.69, a P/E ratio of 28.17, a P/E/G ratio of 3.71 and a beta of 1.03. Teledyne Technologies has a 12 month low of $119.67 and a 12 month high of $186.54. 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 issued its quarterly earnings data on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. The company had revenue of $662.20 million during the quarter, compared to the consensus estimate of $656.20 million. Teledyne Technologies had a net margin of 8.67% and a return on equity of 14.18%. Teledyne Technologies’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. analysts forecast that Teledyne Technologies will post 6.7 EPS for the current fiscal year.

In other news, CFO Sue Main sold 7,000 shares of the business’s stock in a transaction 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 directly owns 40,874 shares of the company’s stock, valued at $7,515,911.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jason Vanwees sold 4,500 shares of the business’s stock in a transaction 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 $6,153,874.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,706 shares of company stock worth $2,687,267. Insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new stake in shares of Teledyne Technologies during the second quarter valued at $280,989,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Teledyne Technologies by 2.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,070,860 shares of the scientific and technical instruments company’s stock valued at $170,460,000 after buying an additional 25,677 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Teledyne Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 630,042 shares of the scientific and technical instruments company’s stock valued at $80,425,000 after buying an additional 8,144 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Teledyne Technologies by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 507,621 shares of the scientific and technical instruments company’s stock valued at $80,804,000 after buying an additional 6,682 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Teledyne Technologies by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 429,459 shares of the scientific and technical instruments company’s stock valued at $68,362,000 after buying an additional 14,299 shares during the last quarter. 84.10% of the stock is currently owned by hedge funds and other 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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