Zacks: Teledyne Technologies Incorporated (TDY) Receives Average Rating of “Buy” from Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given a consensus broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Teledyne Technologies’ rating score has improved by 20% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a twelve-month consensus price target of $245.33 for the company and are predicting that the company will post $2.40 earnings per share for the current quarter, according to Zacks. Zacks has also given Teledyne Technologies an industry rank of 46 out of 256 based on the ratings given to its competitors.

Several research firms have recently weighed in on TDY. Cowen began coverage on Teledyne Technologies in a research note on Tuesday, April 2nd. They set an “outperform” rating and a $265.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $248.00 price target (up previously from $240.00) on shares of Teledyne Technologies in a research note on Friday, March 15th. Finally, Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 price target for the company in a research note on Tuesday, March 26th.

In other Teledyne Technologies news, insider Aldo Pichelli sold 3,296 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $252.00, for a total value of $830,592.00. Following the completion of the transaction, the insider now owns 89,676 shares in the company, valued at approximately $22,598,352. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 551 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $235.05, for a total value of $129,512.55. Following the completion of the transaction, the director now owns 36,638 shares of the company’s stock, valued at approximately $8,611,761.90. The disclosure for this sale can be found here. Insiders have sold a total of 34,919 shares of company stock valued at $8,753,462 in the last quarter. 3.19% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TDY. Rockefeller Capital Management L.P. purchased a new stake in shares of Teledyne Technologies in the 1st quarter valued at about $31,000. Penserra Capital Management LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $36,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Teledyne Technologies by 32.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 218 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 54 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Teledyne Technologies by 205.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 281 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 189 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $86,000. Institutional investors and hedge funds own 82.66% of the company’s stock.

Shares of TDY stock traded up $2.00 on Friday, hitting $239.74. 137,633 shares of the stock were exchanged, compared to its average volume of 175,190. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.54. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.46 and a beta of 1.10. Teledyne Technologies has a one year low of $189.35 and a one year high of $260.99.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. The company had revenue of $745.20 million during the quarter, compared to the consensus estimate of $728.30 million. Teledyne Technologies had a return on equity of 14.87% and a net margin of 11.61%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 EPS. Equities analysts predict that Teledyne Technologies will post 9.5 EPS for the current 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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