Teledyne Technologies (NYSE:TDY) Sets New 1-Year High – Here’s Why

Teledyne Technologies Incorporated (NYSE:TDY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $519.38 and last traded at $519.03, with a volume of 217566 shares trading hands. The stock had previously closed at $508.75.

Analyst Ratings Changes

TDY has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen increased their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $531.00.

Teledyne Technologies Trading Down 1.5 %

The company has a market cap of $23.81 billion, a PE ratio of 29.66, a P/E/G ratio of 3.21 and a beta of 1.01. The stock’s 50 day moving average is $477.57 and its 200-day moving average is $451.08. 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 (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $5.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.4 EPS for the current year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the company’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 transaction, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $488.71, for a total value of $733,065.00. Following the completion of the sale, the insider now owns 2,900 shares of the company’s stock, valued at $1,417,259. The trade was a 34.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,683 shares of company stock worth $38,943,649. 2.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors have recently bought and sold shares of the business. Cardinal Capital Management grew its stake in Teledyne Technologies by 0.6% in the fourth quarter. Cardinal Capital Management now owns 7,389 shares of the scientific and technical instruments company’s stock valued at $3,429,000 after purchasing an additional 43 shares during the last quarter. Northstar Asset Management Inc. raised its stake in shares of Teledyne Technologies by 4.2% during the 4th quarter. Northstar Asset Management Inc. now owns 870 shares of the scientific and technical instruments company’s stock worth $404,000 after acquiring an additional 35 shares in the last quarter. CIBC Asset Management Inc lifted its position in Teledyne Technologies by 4.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,147 shares of the scientific and technical instruments company’s stock valued at $3,317,000 after acquiring an additional 293 shares during the last quarter. Principal Financial Group Inc. lifted its position in Teledyne Technologies by 15.2% during the fourth quarter. Principal Financial Group Inc. now owns 64,350 shares of the scientific and technical instruments company’s stock valued at $29,867,000 after acquiring an additional 8,501 shares during the last quarter. Finally, Pathway Financial Advisors LLC purchased a new position in Teledyne Technologies in the fourth quarter worth $202,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

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.