Brokerages Set Teledyne Technologies Incorporated (NYSE:TDY) Price Target at $542.50

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $542.50.

A number of analysts have commented on the stock. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Bank of America upped their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. TD Securities reaffirmed a “buy” rating and set a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Needham & Company LLC cut their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th.

Insider Activity

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the sale, the insider now directly owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

Several large investors have recently added to or reduced their stakes in TDY. Norges Bank bought a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $306,042,000. GAMMA Investing LLC lifted its position in shares of Teledyne Technologies by 61,911.9% during the 1st quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company’s stock worth $247,220,000 after buying an additional 495,914 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Teledyne Technologies by 19,605.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company’s stock worth $169,469,000 after buying an additional 363,280 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $143,524,000. Finally, Madison Investment Advisors LLC bought a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $94,721,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $492.37 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a twelve month low of $380.63 and a twelve month high of $522.50. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 3.14 and a beta of 1.06. The company’s fifty day moving average is $476.80 and its 200 day moving average is $480.64.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. Teledyne Technologies’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Teledyne Technologies will post 21.55 EPS for the current year.

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.