Teledyne Technologies (NYSE:TDY) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research note published on Wednesday morning.

Several other research analysts also recently commented on TDY. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $548.00.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $500.16 on Wednesday. The company has a market capitalization of $23.43 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 3.14 and a beta of 1.03. The business has a 50 day moving average of $501.65 and a 200 day moving average of $476.36. 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.

Teledyne Technologies (NYSE:TDY) last announced 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 analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.44 EPS. On average, sell-side analysts predict that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Teledyne Technologies

Several large investors have recently bought and sold shares of TDY. Wellington Management Group LLP boosted its position in shares of Teledyne Technologies by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $3,585,000 after purchasing an additional 424 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Teledyne Technologies by 36.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,835 shares of the scientific and technical instruments company’s stock valued at $852,000 after buying an additional 491 shares in the last quarter. Siemens Fonds Invest GmbH grew its position in shares of Teledyne Technologies by 5.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 518 shares of the scientific and technical instruments company’s stock worth $241,000 after buying an additional 27 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Teledyne Technologies in the 4th quarter worth about $12,610,000. Finally, Mackenzie Financial Corp lifted its position in Teledyne Technologies by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 4,268 shares of the scientific and technical instruments company’s stock valued at $1,981,000 after acquiring an additional 236 shares during the period. 91.58% of the stock is owned by institutional investors.

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.