Barclays Has Lowered Expectations for Teledyne Technologies (NYSE:TDY) Stock Price

Teledyne Technologies (NYSE:TDY) had its target price reduced by Barclays from $606.00 to $584.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Barclays‘s target price suggests a potential upside of 9.64% from the stock’s current price.

Several other analysts have also recently commented on the company. Morgan Stanley increased their target price on Teledyne Technologies from $580.00 to $620.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. UBS Group increased their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Teledyne Technologies in a report on Wednesday, October 8th. Finally, Needham & Company LLC increased their target price on Teledyne Technologies from $585.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.29.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY opened at $532.66 on Thursday. The business’s fifty day moving average price is $558.72 and its two-hundred day moving average price is $522.82. Teledyne Technologies has a fifty-two week low of $419.00 and a fifty-two week high of $595.99. The stock has a market capitalization of $24.98 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 2.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.79 and a quick ratio of 1.07.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 earnings per share for the quarter, beating analysts’ consensus estimates of $5.47 by $0.10. Teledyne Technologies had a return on equity of 9.95% and a net margin of 13.62%.The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business posted $5.10 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. Teledyne Technologies has set its FY 2025 guidance at 21.450-21.600 EPS. Q4 2025 guidance at 5.730-5.880 EPS. As a group, analysts predict that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its board has initiated a stock repurchase plan on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO George C. Bobb III sold 6,735 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the transaction, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This represents a 3.71% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

Several hedge funds have recently added to or reduced their stakes in TDY. GAMMA Investing LLC lifted its stake in Teledyne Technologies by 24.6% in the first quarter. GAMMA Investing LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $497,000 after buying an additional 197 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Teledyne Technologies by 11.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,040 shares of the scientific and technical instruments company’s stock valued at $1,015,000 after buying an additional 205 shares during the period. Asset Management One Co. Ltd. lifted its stake in Teledyne Technologies by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company’s stock valued at $19,061,000 after buying an additional 1,712 shares during the period. Legacy Advisors LLC acquired a new position in Teledyne Technologies in the first quarter valued at about $205,000. Finally, Golden State Wealth Management LLC lifted its stake in Teledyne Technologies by 205.9% in the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds 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.