Analysts Set Teledyne Technologies Incorporated (NYSE:TDY) Price Target at $531.00

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $531.00.

Several research firms have commented on TDY. TD Cowen increased their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC increased their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th.

Insider Activity

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Smith sold 2,100 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $510.50, for a total value of $1,072,050.00. Following the completion of the transaction, the director now owns 52,835 shares in the company, valued at $26,972,267.50. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,683 shares of company stock valued at $38,943,649 in the last 90 days. Insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TDY. Wolff Wiese Magana LLC purchased a new stake in Teledyne Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in Teledyne Technologies in the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Teledyne Technologies in the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies in the 4th quarter worth approximately $46,000. Finally, Quarry LP lifted its holdings in Teledyne Technologies by 706.3% in the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 113 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $510.96 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The stock’s fifty day moving average price is $477.57 and its two-hundred day moving average price is $451.76. Teledyne Technologies has a one year low of $355.41 and a one year high of $522.50. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 3.21 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.44 EPS. On average, equities analysts forecast that Teledyne Technologies will post 21.4 EPS for the current year.

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.