ValuEngine Lowers Teledyne Technologies (NYSE:TDY) to Hold

ValuEngine cut shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

Other equities research analysts have also issued reports about the company. Needham & Company LLC increased their price target on Teledyne Technologies from $275.00 to $328.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Berenberg Bank initiated coverage on Teledyne Technologies in a research report on Tuesday, June 11th. They set a buy rating and a $290.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $272.40.

Shares of TDY traded down $5.50 during mid-day trading on Thursday, reaching $283.62. The company had a trading volume of 2,209 shares, compared to its average volume of 169,269. Teledyne Technologies has a twelve month low of $189.35 and a twelve month high of $306.46. The company has a quick ratio of 1.08, a current ratio of 1.63 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $276.09. The stock has a market cap of $10.52 billion, a P/E ratio of 32.06, a P/E/G ratio of 3.87 and a beta of 1.14.

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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.40. Teledyne Technologies had a return on equity of 15.09% and a net margin of 12.04%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $781.55 million. During the same period in the prior year, the firm posted $2.32 EPS. Teledyne Technologies’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that Teledyne Technologies will post 9.95 earnings per share for the current fiscal year.

In other news, Director Simon M. Lorne sold 248 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $295.47, for a total value of $73,276.56. Following the transaction, the director now directly owns 31,271 shares in the company, valued at approximately $9,239,642.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sue Main sold 12,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 48,418 shares in the company, valued at $12,144,202.76. The disclosure for this sale can be found here. Insiders sold a total of 39,123 shares of company stock worth $10,099,288 over the last quarter. Corporate insiders own 3.19% of the company’s stock.

Several large investors have recently bought and sold shares of TDY. Janus Henderson Group PLC raised its stake in Teledyne Technologies by 0.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,186,982 shares of the scientific and technical instruments company’s stock worth $598,949,000 after buying an additional 19,732 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of 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 valued at $126,968,000 after purchasing an additional 42,133 shares during the period. Geode Capital Management LLC raised its stake in shares of Teledyne Technologies by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 379,773 shares of the scientific and technical instruments company’s stock valued at $78,639,000 after purchasing an additional 42,048 shares during the period. Norges Bank acquired a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $56,856,000. Finally, SG Capital Management LLC acquired a new stake in shares of Teledyne Technologies in the 1st quarter valued at about $19,355,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

About Teledyne Technologies

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.

Further Reading: How to invest in blue-chip stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Teledyne Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teledyne Technologies and related companies with MarketBeat.com's FREE daily email newsletter.