Zacks: Teledyne Technologies Incorporated (TDY) Receives Consensus Rating of “Hold” from Analysts

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company.

Brokerages have set a 12-month consensus price target of $190.50 for the company and are expecting that the company will post $1.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Teledyne Technologies an industry rank of 99 out of 265 based on the ratings given to its competitors.

A number of research firms recently issued reports on TDY. Needham & Company LLC boosted their price objective on Teledyne Technologies to $205.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research lowered Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Jefferies Group boosted their price target on Teledyne Technologies from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd.

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 1,700 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $185.44, for a total transaction of $315,248.00. Following the completion of the transaction, the vice president now owns 6,903 shares in the company, valued at approximately $1,280,092.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth C. Dahlberg sold 5,994 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $182.44, for a total value of $1,093,545.36. Following the transaction, the director now owns 12,164 shares of the company’s stock, valued at approximately $2,219,200.16. The disclosure for this sale can be found here. Insiders have sold a total of 16,652 shares of company stock valued at $3,050,124 in the last quarter. 3.30% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in TDY. Cramer Rosenthal Mcglynn LLC acquired a new position in Teledyne Technologies during the 3rd quarter worth $42,263,000. Westfield Capital Management Co. LP acquired a new position in Teledyne Technologies during the 3rd quarter worth $27,400,000. CI Investments Inc. bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth $20,298,000. Victory Capital Management Inc. bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth $19,150,000. Finally, BlackRock Inc. raised its stake in shares of Teledyne Technologies by 2.8% in the 4th quarter. BlackRock Inc. now owns 3,476,666 shares of the scientific and technical instruments company’s stock worth $629,798,000 after buying an additional 95,833 shares in the last quarter. Institutional investors own 83.22% of the company’s stock.

Teledyne Technologies (NYSE:TDY) opened at $187.75 on Monday. Teledyne Technologies has a 12-month low of $121.58 and a 12-month high of $201.40. The stock has a market capitalization of $6,458.30, a P/E ratio of 26.38, a P/E/G ratio of 3.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.90.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.21. Teledyne Technologies had a return on equity of 14.06% and a net margin of 8.73%. The business had revenue of $704.40 million during the quarter, compared to analyst estimates of $669.25 million. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. equities analysts forecast that Teledyne Technologies will post 7.55 earnings per share for the current fiscal year.

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Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.

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