Teledyne Technologies (NYSE:TDY) Price Target Raised to $600.00

Teledyne Technologies (NYSE:TDY) had its target price raised by Bank of America from $550.00 to $600.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities analysts have also recently commented on the stock. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Stock Performance

NYSE TDY opened at $500.35 on Monday. The company’s 50 day simple moving average is $495.59 and its two-hundred day simple moving average is $471.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $522.50. The stock has a market capitalization of $23.43 billion, a PE ratio of 29.04, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data 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. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.44 earnings per share. Analysts predict that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. 2.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors have recently added to or reduced their stakes in TDY. Stratos Wealth Partners LTD. increased its stake in shares of Teledyne Technologies by 4.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 21 shares in the last quarter. Ironwood Investment Management LLC grew its holdings in Teledyne Technologies by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock worth $1,335,000 after purchasing an additional 22 shares during the period. Tidal Investments LLC increased its stake in shares of Teledyne Technologies by 0.4% during the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company’s stock valued at $2,556,000 after purchasing an additional 22 shares in the last quarter. Keel Point LLC lifted its holdings in shares of Teledyne Technologies by 4.5% during the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock valued at $247,000 after purchasing an additional 23 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of Teledyne Technologies by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

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.