Shares of Teledyne Technologies Incorporated (NYSE:TDY) have earned a consensus broker rating score of 1.75 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. Teledyne Technologies’ rating score has improved by 12.5% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus price objective of $259.00 for the company and are expecting that the company will post $2.40 EPS for the current quarter, according to Zacks. Zacks has also assigned Teledyne Technologies an industry rank of 149 out of 256 based on the ratings given to related companies.
A number of analysts recently commented on TDY shares. Cowen lifted their price objective on Delta Air Lines from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Zacks Investment Research cut Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 1,581 ($20.66) price objective on shares of in a research report on Tuesday, June 11th.
In other Teledyne Technologies news, VP Cynthia Y. Belak sold 11,362 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $264.49, for a total value of $3,005,135.38. Following the sale, the vice president now directly owns 14,407 shares of the company’s stock, valued at approximately $3,810,507.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sue Main sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $250.82, for a total value of $3,009,840.00. Following the completion of the sale, the chief financial officer now directly owns 48,418 shares in the company, valued at $12,144,202.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,730 shares of company stock valued at $13,920,845. 3.19% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of TDY. Norges Bank acquired a new stake in Teledyne Technologies in the 4th quarter worth about $56,856,000. SG Capital Management LLC acquired a new stake in Teledyne Technologies in the 1st quarter worth about $19,355,000. Assenagon Asset Management S.A. boosted its stake in Teledyne Technologies by 752.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 70,719 shares of the scientific and technical instruments company’s stock worth $16,761,000 after buying an additional 62,420 shares during the last quarter. Citigroup Inc. boosted its stake in Teledyne Technologies by 326.2% in the 1st quarter. Citigroup Inc. now owns 62,003 shares of the scientific and technical instruments company’s stock worth $14,696,000 after buying an additional 47,455 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in Teledyne Technologies by 8.5% in the 1st quarter. Artisan Partners Limited Partnership now owns 535,709 shares of the scientific and technical instruments company’s stock worth $126,968,000 after buying an additional 42,133 shares during the last quarter. 84.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TDY stock traded up $1.62 during mid-day trading on Tuesday, reaching $278.09. The stock had a trading volume of 145,548 shares, compared to its average volume of 192,937. Teledyne Technologies has a 12-month low of $189.35 and a 12-month high of $281.27. The firm has a market capitalization of $10.08 billion, a P/E ratio of 31.32, a P/E/G ratio of 3.87 and a beta of 1.16. The firm’s 50-day moving average is $263.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.54.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. Teledyne Technologies had a return on equity of 14.87% and a net margin of 11.61%. The business had revenue of $745.20 million during the quarter, compared to analysts’ expectations of $728.30 million. During the same quarter last year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Teledyne Technologies will post 9.58 EPS for the current fiscal year.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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