Teledyne Technologies (NYSE:TDY) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Teledyne Technologies (NYSE:TDY) from a sell rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

Separately, Cowen set a $375.00 price objective on Teledyne Technologies and gave the company a buy rating in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $312.50.

Shares of NYSE:TDY opened at $340.89 on Tuesday. The company’s 50 day moving average price is $336.30 and its two-hundred day moving average price is $298.37. Teledyne Technologies has a 12-month low of $189.35 and a 12-month high of $351.52. The firm has a market cap of $12.41 billion, a PE ratio of 38.39, a PEG ratio of 4.38 and a beta of 1.09. The company has a quick ratio of 1.00, a current ratio of 1.48 and a debt-to-equity ratio of 0.33.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.31. The company had revenue of $802.20 million during the quarter, compared to the consensus estimate of $786.55 million. Teledyne Technologies had a net margin of 12.27% and a return on equity of 15.52%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.43 earnings per share. On average, research analysts expect that Teledyne Technologies will post 10.42 EPS for the current year.

In other Teledyne Technologies news, CFO Sue Main sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $318.22, for a total transaction of $3,818,640.00. Following the completion of the transaction, the chief financial officer now directly owns 48,418 shares in the company, valued at $15,407,575.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 2,191 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $332.33, for a total value of $728,135.03. Following the sale, the director now owns 31,374 shares of the company’s stock, valued at $10,426,521.42. The disclosure for this sale can be found here. Insiders have sold 37,712 shares of company stock valued at $12,443,774 in the last ninety days. 3.19% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Squar Milner Financial Services LLC acquired a new stake in Teledyne Technologies in the third quarter valued at about $26,000. Valeo Financial Advisors LLC bought a new position in Teledyne Technologies in the third quarter valued at about $32,000. Berman Capital Advisors LLC raised its stake in Teledyne Technologies by 85.3% during the second quarter. Berman Capital Advisors LLC now owns 139 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 64 shares in the last quarter. C M Bidwell & Associates Ltd. raised its stake in Teledyne Technologies by 217.0% during the second quarter. C M Bidwell & Associates Ltd. now owns 168 shares of the scientific and technical instruments company’s stock worth $46,000 after acquiring an additional 115 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Teledyne Technologies by 112.5% during the second quarter. Advisory Services Network LLC now owns 187 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 84.77% of the company’s stock.

About Teledyne Technologies

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. 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 deployed in mission critical and harsh environments.

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