Teledyne Technologies Incorporated (NYSE:TDY) Given Average Rating of "Buy" by Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) have been assigned an average rating of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $542.50.

TDY has been the subject of a number of analyst reports. Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. TD Securities reaffirmed a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. StockNews.com downgraded shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Needham & Company LLC decreased their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 3,700 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the completion of the sale, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TDY. Norges Bank acquired a new position in Teledyne Technologies during the 4th quarter worth $306,042,000. GAMMA Investing LLC grew its position in shares of Teledyne Technologies by 61,911.9% during the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock worth $247,220,000 after buying an additional 495,914 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Teledyne Technologies by 19,605.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company's stock worth $169,469,000 after buying an additional 363,280 shares during the period. Point72 Asset Management L.P. acquired a new stake in Teledyne Technologies in the fourth quarter valued at approximately $143,524,000. Finally, Madison Investment Advisors LLC purchased a new position in Teledyne Technologies in the fourth quarter worth approximately $94,721,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Down 0.1 %

Shares of TDY opened at $481.21 on Friday. The firm has a market cap of $22.55 billion, a P/E ratio of 27.93, a P/E/G ratio of 3.14 and a beta of 1.06. Teledyne Technologies has a 1 year low of $380.63 and a 1 year high of $522.50. The stock has a 50 day simple moving average of $477.03 and a two-hundred day simple moving average of $480.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 earnings per share. On average, analysts forecast that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

About Teledyne Technologies

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.

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