Analysts Set Teledyne Technologies Incorporated (NYSE:TDY) PT at $503.86

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have received an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $503.86.

A number of equities research analysts have recently commented on TDY shares. BNP Paribas started coverage on shares of Teledyne Technologies in a report on Thursday, October 5th. They set an “outperform” rating and a $530.00 price target on the stock. The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $423.00 to $495.00 in a report on Monday, August 14th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $455.00 price target on shares of Teledyne Technologies in a report on Tuesday, October 24th. Finally, UBS Group started coverage on shares of Teledyne Technologies in a research report on Wednesday, September 27th. They set a “buy” rating and a $495.00 price objective on the stock.

Teledyne Technologies Price Performance

Shares of TDY opened at $390.98 on Thursday. The stock has a market cap of $18.45 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.10 and a current ratio of 1.68. Teledyne Technologies has a fifty-two week low of $364.98 and a fifty-two week high of $448.71. The firm’s 50-day simple moving average is $396.72 and its two-hundred day simple moving average is $401.29.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $5.05 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.29. Teledyne Technologies had a net margin of 14.02% and a return on equity of 10.86%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company earned $4.54 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. Analysts anticipate that Teledyne Technologies will post 19.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Michael T. Smith sold 1,071 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $395.00, for a total value of $423,045.00. Following the transaction, the director now directly owns 56,492 shares in the company, valued at $22,314,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Teledyne Technologies news, CEO Robert Mehrabian sold 45,500 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the transaction, the chief executive officer now directly owns 196,052 shares in the company, valued at $81,583,118.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 1,071 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $395.00, for a total transaction of $423,045.00. Following the sale, the director now owns 56,492 shares in the company, valued at $22,314,340. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,717 shares of company stock worth $26,140,340. Company insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

Several institutional investors and hedge funds have recently modified their holdings of TDY. Raymond James Financial Services Advisors Inc. raised its position in shares of Teledyne Technologies by 93.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,068 shares of the scientific and technical instruments company’s stock valued at $1,923,000 after purchasing an additional 1,965 shares during the period. American Century Companies Inc. raised its position in shares of Teledyne Technologies by 4.0% during the 1st quarter. American Century Companies Inc. now owns 1,911 shares of the scientific and technical instruments company’s stock valued at $903,000 after purchasing an additional 74 shares during the period. Private Advisor Group LLC raised its position in shares of Teledyne Technologies by 40.1% during the 1st quarter. Private Advisor Group LLC now owns 796 shares of the scientific and technical instruments company’s stock valued at $376,000 after purchasing an additional 228 shares during the period. Cibc World Market Inc. raised its position in shares of Teledyne Technologies by 62.5% during the 1st quarter. Cibc World Market Inc. now owns 1,370 shares of the scientific and technical instruments company’s stock valued at $648,000 after purchasing an additional 527 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Teledyne Technologies by 1,272.5% during the first quarter. Canada Pension Plan Investment Board now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $662,000 after acquiring an additional 1,298 shares in the last quarter. 87.57% of the stock is currently owned by institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. 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.