Teledyne Technologies (NYSE:TDY) Hits New 12-Month High at $325.73

Teledyne Technologies Incorporated (NYSE:TDY)’s stock price hit a new 52-week high on Thursday . The company traded as high as $325.73 and last traded at $325.37, with a volume of 11330 shares traded. The stock had previously closed at $320.68.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $275.00 to $328.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Cowen set a $375.00 target price on shares of Teledyne Technologies and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, ValuEngine lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Teledyne Technologies has an average rating of “Buy” and a consensus price target of $312.50.

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.63 and a quick ratio of 1.08. The stock’s 50-day moving average is $313.88 and its two-hundred day moving average is $273.95. The stock has a market cap of $11.67 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.40. Teledyne Technologies had a net margin of 12.04% and a return on equity of 15.09%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $781.55 million. During the same quarter in the prior year, the business earned $2.32 earnings per share. Teledyne Technologies’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that Teledyne Technologies Incorporated will post 9.98 EPS for the current fiscal year.

In other news, Director Schack Wesley W. Von sold 4,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $319.24, for a total value of $1,276,960.00. Following the sale, the director now owns 14,366 shares of the company’s stock, valued at $4,586,201.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sue Main sold 12,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $318.22, for a total transaction of $3,818,640.00. Following the completion of the transaction, the chief financial officer now owns 48,418 shares in the company, valued at $15,407,575.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,248 shares of company stock worth $7,569,057. 3.19% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TDY. Nikko Asset Management Americas Inc. grew its holdings in Teledyne Technologies by 3.4% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,170 shares of the scientific and technical instruments company’s stock worth $320,000 after acquiring an additional 38 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Teledyne Technologies by 5.8% during the 2nd quarter. Wedbush Securities Inc. now owns 908 shares of the scientific and technical instruments company’s stock worth $249,000 after acquiring an additional 50 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Teledyne Technologies by 1.0% in the 2nd quarter. US Bancorp DE now owns 5,962 shares of the scientific and technical instruments company’s stock valued at $1,633,000 after buying an additional 58 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Teledyne Technologies by 2.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,221 shares of the scientific and technical instruments company’s stock valued at $608,000 after buying an additional 62 shares in the last quarter. Finally, Berman Capital Advisors LLC boosted its holdings in shares of Teledyne Technologies by 85.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 139 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 85.06% of the company’s stock.

Teledyne Technologies Company Profile (NYSE:TDY)

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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