Analysts Set Teledyne Technologies Incorporated (NYSE:TDY) PT at $548.00

Teledyne Technologies Incorporated (NYSE:TDY) has earned a consensus recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $548.00.

Several analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th.

Insiders Place Their Bets

In other news, COO George C. Bobb III sold 6,308 shares of the company’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 transaction, the chief operating officer now directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. 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 Teledyne Technologies 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 sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at $13,794,018.84. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock valued at $17,709,721 over the last 90 days. Insiders own 1.50% of the company’s stock.

Institutional Trading of Teledyne Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Teledyne Technologies during the 4th quarter worth $28,000. NBC Securities Inc. bought a new position in shares of Teledyne Technologies during the 1st quarter worth $28,000. Hurley Capital LLC purchased a new position in shares of Teledyne Technologies during the fourth quarter valued at $33,000. Ancora Advisors LLC raised its holdings in shares of Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 50 shares in the last quarter. Finally, City Holding Co. purchased a new stake in Teledyne Technologies in the first quarter worth about $38,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.3 %

TDY opened at $462.30 on Monday. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $486.27 and a two-hundred day simple moving average of $478.03. The company has a market capitalization of $21.65 billion, a PE ratio of 26.83, a price-to-earnings-growth 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 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 for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm earned $5.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

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.