Teledyne Technologies Incorporated (TDY) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Eight analysts give Teledyne a consensus “Moderate Buy” rating, with an average 1-year price target of $731.83. Recent target increases include Stifel Nicolaus to $795 and Needham to $775.
• Quarterly results topped expectations: Teledyne reported EPS of $6.72 versus forecasts of $6.17, while revenue reached $1.68 billion and rose 9.4% year over year.
• TDY opened at $643, within its 52-week range of $483.02 to $697.67. Institutional investors own 91.58% of the company’s shares; a director recently sold 6,449 shares.

Shares of Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $731.83.

A number of brokerages have weighed in on TDY. Stifel Nicolaus upped their price target on shares of Teledyne Technologies from $775.00 to $795.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Zacks Research downgraded shares of Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Barclays increased their target price on shares of Teledyne Technologies from $640.00 to $646.00 and gave the company an "equal weight" rating in a research note on Monday, October 26th. Morgan Stanley raised their target price on shares of Teledyne Technologies from $715.00 to $725.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 3rd. Finally, Needham & Company LLC lifted their price target on shares of Teledyne Technologies from $760.00 to $775.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd.

Teledyne Technologies Stock Up 3.9%

TDY stock opened at $643.00 on Tuesday. Teledyne Technologies has a 52 week low of $483.02 and a 52 week high of $697.67. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.89. The firm's 50-day moving average is $619.01 and its two-hundred day moving average is $634.82. The company has a current ratio of 2.31, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $5.57 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts forecast that Teledyne Technologies will post 25.58 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In other news, Director Simon Lorne sold 6,449 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the sale, the director directly owned 55,783 shares of the company's stock, valued at $37,951,406.22. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.36% of the company's stock.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds have recently modified their holdings of TDY. Core Capital Management & Research inc. purchased a new position in Teledyne Technologies in the second quarter valued at about $3,035,000. Maren Capital LLC increased its position in Teledyne Technologies by 4.1% in the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company's stock worth $251,373,000 after purchasing an additional 14,806 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth about $7,117,000. Royal Bank of Canada raised its stake in shares of Teledyne Technologies by 1.9% during the 1st quarter. Royal Bank of Canada now owns 214,721 shares of the scientific and technical instruments company's stock worth $129,908,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Teledyne Technologies during the 2nd quarter valued at about $12,911,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

About Teledyne Technologies

Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection.

The company's businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.

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