Brokerages Set Teledyne Technologies Incorporated (NYSE:TDY) Price Target at $548.00

Teledyne Technologies Incorporated (NYSE:TDY) has been assigned an average recommendation of “Buy” from the five research firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $548.00.

A number of equities research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Bank of America upped their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th.

Insider Buying and Selling at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the sale, the vice president now owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,571 shares of company stock valued at $17,709,721. 2.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TDY. Quarry LP acquired a new position in Teledyne Technologies during the fourth quarter worth $28,000. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the third quarter valued at $32,000. Hurley Capital LLC acquired a new position in shares of Teledyne Technologies during the 4th quarter worth $33,000. Ancora Advisors LLC boosted its position in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 50 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies in the 3rd quarter valued at about $39,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 1.2 %

Shares of NYSE TDY opened at $507.63 on Thursday. The business has a 50-day moving average price of $498.18 and a 200 day moving average price of $472.92. The stock has a market cap of $23.78 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $522.50.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm posted $5.44 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Teledyne Technologies will post 21.55 earnings per share for the current year.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.