Teledyne Technologies (NYSE:TDY) Cut to "Neutral" at Bank of America

Bank of America downgraded shares of Teledyne Technologies (NYSE:TDY - Free Report) from a buy rating to a neutral rating in a report issued on Friday morning, Marketbeat reports. They currently have $400.00 price objective on the scientific and technical instruments company's stock, down from their previous price objective of $490.00.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Teledyne Technologies from a buy rating to a hold rating in a report on Thursday. TD Cowen decreased their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a report on Thursday. Finally, Needham & Company LLC decreased their price target on Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $474.86.

Teledyne Technologies Stock Down 0.6 %

Shares of TDY stock traded down $2.34 during trading hours on Friday, reaching $374.64. 471,356 shares of the company's stock were exchanged, compared to its average volume of 235,535. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The stock has a market cap of $17.75 billion, a PE ratio of 20.26, a PEG ratio of 2.48 and a beta of 1.02. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average price is $417.57 and its two-hundred day moving average price is $414.64.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts' consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $4.53 EPS. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts predict that Teledyne Technologies will post 19.35 EPS for the current year.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares of the company's stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Michael T. Smith sold 511 shares of the company's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the transaction, the director now directly owns 56,492 shares of the company's stock, valued at approximately $24,348,052. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Simon M. Lorne sold 2,200 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares of the company's stock, valued at $28,711,789.60. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock valued at $2,890,621 in the last three months. 2.14% of the stock is currently owned by company insiders.

Institutional Trading of Teledyne Technologies

Large investors have recently made changes to their positions in the company. Norden Group LLC grew its holdings in Teledyne Technologies by 1.2% in the 4th quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company's stock valued at $959,000 after buying an additional 25 shares in the last quarter. Weik Capital Management grew its holdings in Teledyne Technologies by 0.5% in the 4th quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company's stock valued at $2,406,000 after buying an additional 25 shares in the last quarter. Allworth Financial LP grew its holdings in Teledyne Technologies by 26.5% in the 3rd quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company's stock valued at $53,000 after buying an additional 27 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Teledyne Technologies by 5.5% in the 3rd quarter. Great Lakes Advisors LLC now owns 540 shares of the scientific and technical instruments company's stock valued at $221,000 after buying an additional 28 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Teledyne Technologies by 0.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 3,669 shares of the scientific and technical instruments company's stock worth $1,499,000 after purchasing an additional 32 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.