Teledyne Technologies Incorporated (NYSE:TDY) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Teledyne Technologies has received an average rating of "Moderate Buy" from analysts, with six out of seven recommending a buy and an average price target of $576.57.
• The company recently approved a $2 billion stock repurchase plan, which signals confidence from the board that the stock is undervalued.
• Teledyne Technologies reported $5.20 earnings per share in its latest quarter, exceeding the consensus estimate and showing a 10.2% year-over-year revenue growth.

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) has earned an average rating of "Moderate Buy" from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $576.5714.

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group increased their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. TD Securities reaffirmed a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Stifel Nicolaus assumed coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the sale, the director directly owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This trade represents a 3.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock valued at $8,315,662 over the last three months. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TDY. Federated Hermes Inc. acquired a new position in shares of Teledyne Technologies in the fourth quarter worth about $109,000. Mariner LLC increased its holdings in Teledyne Technologies by 2.4% in the fourth quarter. Mariner LLC now owns 5,462 shares of the scientific and technical instruments company's stock valued at $2,535,000 after buying an additional 130 shares during the last quarter. XTX Topco Ltd raised its stake in Teledyne Technologies by 151.2% during the fourth quarter. XTX Topco Ltd now owns 1,334 shares of the scientific and technical instruments company's stock valued at $619,000 after buying an additional 803 shares in the last quarter. Walleye Capital LLC acquired a new stake in Teledyne Technologies during the fourth quarter valued at approximately $632,000. Finally, United Capital Financial Advisors LLC raised its stake in Teledyne Technologies by 10.1% during the fourth quarter. United Capital Financial Advisors LLC now owns 753 shares of the scientific and technical instruments company's stock valued at $350,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Price Performance

TDY stock opened at $538.73 on Friday. Teledyne Technologies has a 52-week low of $412.80 and a 52-week high of $570.56. The stock's fifty day simple moving average is $526.84 and its 200-day simple moving average is $501.25. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the firm earned $4.58 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Teledyne Technologies will post 21.55 EPS for the current year.

Teledyne Technologies declared that its board has approved a stock repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.

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