Teledyne Technologies (TDY) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research note released on Friday morning.

Other equities analysts have also issued reports about the company. Needham & Company LLC reiterated a buy rating and set a $157.00 price objective (up from $148.00) on shares of Teledyne Technologies in a research report on Wednesday, August 9th. Jefferies Group increased their price objective on Teledyne Technologies from $150.00 to $170.00 and gave the company a hold rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded Teledyne Technologies from a hold rating to a buy rating and set a $166.00 price target on the stock in a research report on Tuesday, August 8th. Finally, BidaskClub upgraded Teledyne Technologies from a hold rating to a buy rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $175.33.

Teledyne Technologies (NYSE TDY) traded down $1.57 during trading hours on Friday, hitting $181.92. The company’s stock had a trading volume of 113,800 shares, compared to its average volume of 165,182. Teledyne Technologies has a 1 year low of $119.67 and a 1 year high of $186.54. The stock has a market cap of $6,502.24, a PE ratio of 27.76, a P/E/G ratio of 3.65 and a beta of 1.03. The company has a current ratio of 1.98, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $662.20 million for 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 company’s revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. equities analysts expect that Teledyne Technologies will post 6.7 earnings per share for the current fiscal year.

In related news, VP Cynthia Y. Belak sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $185.19, for a total transaction of $740,760.00. Following the transaction, the vice president now directly owns 6,903 shares in the company, valued at approximately $1,278,366.57. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jason Vanwees sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $182.83, for a total value of $822,735.00. Following the transaction, the senior vice president now 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 90 days, insiders have sold 20,406 shares of company stock worth $3,743,275. 3.30% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of TDY. Tower Research Capital LLC TRC grew its position in shares of Teledyne Technologies by 1,204.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,304 shares of the scientific and technical instruments company’s stock worth $166,000 after buying an additional 1,204 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Teledyne Technologies by 15.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock valued at $169,000 after purchasing an additional 177 shares during the period. ETF Managers Group LLC purchased a new position in shares of Teledyne Technologies in the 2nd quarter valued at approximately $181,000. Zions Bancorporation purchased a new position in shares of Teledyne Technologies in the 3rd quarter valued at approximately $220,000. Finally, AMP Capital Investors Ltd purchased a new position in shares of Teledyne Technologies in the 3rd quarter valued at approximately $223,000. Hedge funds and other institutional investors own 84.11% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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