Shares of Teledyne Technologies Incorporated (NYSE:TDY) have earned an average broker rating score of 2.00 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. Teledyne Technologies’ rating score has improved by 20% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price target of $248.67 for the company and are expecting 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 41 out of 256 based on the ratings given to related companies.
Several equities analysts have recently issued reports on the company. Cowen assumed coverage on Teledyne Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $265.00 price objective for the company. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 price objective for the company in a research report on Tuesday, March 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $248.00 price objective (up from $240.00) on shares of Teledyne Technologies in a research report on Friday, March 15th.
Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.10. The business 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 business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. Sell-side analysts forecast that Teledyne Technologies will post 9.5 earnings per share for the current fiscal year.
In other Teledyne Technologies news, EVP Jason Vanwees sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $254.64, for a total value of $2,291,760.00. Following the completion of the sale, the executive vice president now directly owns 41,349 shares in the company, valued at $10,529,109.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Melanie Susan Cibik sold 6,783 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $252.00, for a total value of $1,709,316.00. Following the completion of the sale, the vice president now owns 26,364 shares of the company’s stock, valued at $6,643,728. The disclosure for this sale can be found here. Insiders sold 43,919 shares of company stock valued at $11,045,222 over the last 90 days. 3.19% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. bought a new position in shares of Teledyne Technologies in the first quarter valued at $649,000. GYL Financial Synergies LLC bought a new position in shares of Teledyne Technologies in the first quarter valued at $1,401,000. MetLife Investment Advisors LLC increased its holdings in shares of Teledyne Technologies by 0.3% in the first quarter. MetLife Investment Advisors LLC now owns 22,072 shares of the scientific and technical instruments company’s stock valued at $5,231,000 after buying an additional 72 shares in the last quarter. Cleararc Capital Inc. bought a new position in shares of Teledyne Technologies in the first quarter valued at $220,000. Finally, V Wealth Advisors LLC bought a new position in shares of Teledyne Technologies in the first quarter valued at $251,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.
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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