Teledyne Technologies (NYSE:TDY) Lifted to Hold at ValuEngine

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ValuEngine upgraded shares of Teledyne Technologies (NYSE:TDY) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

Separately, Cowen set a $375.00 price objective on Teledyne Technologies and gave the company a buy rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $312.50.

Shares of NYSE TDY opened at $340.89 on Tuesday. The firm has a market capitalization of $12.41 billion, a P/E ratio of 38.39, a P/E/G ratio of 4.38 and a beta of 1.09. The firm’s 50-day moving average price is $336.30 and its 200-day moving average price is $298.37. The company has a current ratio of 1.48, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Teledyne Technologies has a 1-year low of $189.35 and a 1-year high of $351.52.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.31. Teledyne Technologies had a return on equity of 15.52% and a net margin of 12.27%. The business had revenue of $802.20 million during the quarter, compared to analyst estimates of $786.55 million. During the same period in the previous year, the company posted $2.43 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Teledyne Technologies will post 10.42 EPS for the current year.

In related news, CFO Sue Main sold 12,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $318.22, for a total transaction of $3,818,640.00. Following the transaction, the chief financial officer now owns 48,418 shares of the company’s stock, valued at $15,407,575.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen Finis Blackwood sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $346.73, for a total value of $1,733,650.00. Following the sale, the vice president now owns 14,254 shares of the company’s stock, valued at approximately $4,942,289.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,712 shares of company stock worth $12,443,774. Corporate insiders own 3.19% of the company’s stock.

Large investors have recently modified their holdings of the business. Squar Milner Financial Services LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth $26,000. Valeo Financial Advisors LLC purchased a new stake in shares of Teledyne Technologies in the third quarter valued at about $32,000. Berman Capital Advisors LLC lifted its position in shares of Teledyne Technologies by 85.3% during the second quarter. Berman Capital Advisors LLC now owns 139 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 64 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its position in shares of Teledyne Technologies by 217.0% during the second quarter. C M Bidwell & Associates Ltd. now owns 168 shares of the scientific and technical instruments company’s stock valued at $46,000 after purchasing an additional 115 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Teledyne Technologies by 112.5% during the second quarter. Advisory Services Network LLC now owns 187 shares of the scientific and technical instruments company’s stock worth $51,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 84.77% 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.

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