Needham & Company LLC Lowers Teledyne Technologies (NYSE:TDY) Price Target to $455.00

Teledyne Technologies (NYSE:TDY) had its price objective reduced by Needham & Company LLC from $510.00 to $455.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Separately, StockNews.com raised shares of Teledyne Technologies from a hold rating to a buy rating in a research report on Saturday, February 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $470.83.

Teledyne Technologies Trading Down 0.6 %

Shares of TDY opened at $374.64 on Thursday. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The firm has a 50 day moving average price of $416.42 and a 200-day moving average price of $414.43.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm posted $4.53 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Teledyne Technologies will post 20.61 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

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

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Teledyne Technologies by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after acquiring an additional 77,890 shares during the period. Aristotle Capital Management LLC bought a new position in Teledyne Technologies during the 3rd quarter valued at about $698,325,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Teledyne Technologies by 26.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after acquiring an additional 193,544 shares during the period. JPMorgan Chase & Co. lifted its stake in Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after acquiring an additional 151,659 shares during the period. Finally, King Luther Capital Management Corp lifted its stake in Teledyne Technologies by 1.6% during the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock valued at $273,586,000 after acquiring an additional 9,843 shares during the period. 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.