Teledyne Technologies (NYSE:TDY) Downgraded 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 report sent to investors on Thursday morning.

Other analysts have also issued reports about the stock. Needham & Company LLC reduced their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research note on Thursday. TD Cowen reduced their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Teledyne Technologies presently has an average rating of Moderate Buy and a consensus target price of $470.83.

Teledyne Technologies Stock Down 0.6 %

Shares of Teledyne Technologies stock opened at $374.64 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81. The stock has a market capitalization of $17.75 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.56 and a beta of 1.02. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a 50-day simple moving average of $416.42 and a two-hundred day simple moving average of $414.43.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $4.53 earnings per share. On average, analysts anticipate that Teledyne Technologies will post 20.61 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the sale, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the sale, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock worth $2,890,621 over the last three months. 2.14% of the stock is currently owned by company insiders.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norden Group LLC increased its stake in shares of Teledyne Technologies by 1.2% in the fourth quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock worth $959,000 after purchasing an additional 25 shares in the last quarter. Weik Capital Management increased its stake in shares of Teledyne Technologies by 0.5% in the fourth quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock worth $2,406,000 after purchasing an additional 25 shares in the last quarter. Allworth Financial LP increased its stake in shares of Teledyne Technologies by 26.5% in the third quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 27 shares in the last quarter. Great Lakes Advisors LLC increased its stake in shares of Teledyne Technologies by 5.5% in the third quarter. Great Lakes Advisors LLC now owns 540 shares of the scientific and technical instruments company’s stock worth $221,000 after purchasing an additional 28 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Teledyne Technologies by 0.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 3,669 shares of the scientific and technical instruments company’s stock worth $1,499,000 after purchasing an additional 32 shares in the last quarter. 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.