Teledyne Technologies Incorporated (NYSE:TDY) has received an average broker rating score of 2.50 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a buy recommendation to the company.
Brokerages have set a 1 year consensus price objective of $190.50 for the company and are predicting that the company will post $1.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Teledyne Technologies an industry rank of 120 out of 265 based on the ratings given to its competitors.
A number of analysts have recently weighed in on TDY shares. Zacks Investment Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, January 5th. ValuEngine downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Needham & Company LLC boosted their target price on shares of Teledyne Technologies to $205.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th.
Teledyne Technologies (NYSE:TDY) last posted its earnings results on Thursday, February 1st. The scientific and technical instruments company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.21. Teledyne Technologies had a net margin of 8.73% and a return on equity of 14.07%. The firm had revenue of $704.40 million for the quarter, compared to the consensus estimate of $669.25 million. During the same period in the previous year, the firm posted $1.64 EPS. The business’s quarterly revenue was up 27.4% on a year-over-year basis. equities research analysts predict that Teledyne Technologies will post 7.55 earnings per share for the current year.
In related news, Director Charles Crocker sold 4,000 shares of Teledyne Technologies stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $183.00, for a total transaction of $732,000.00. Following the completion of the transaction, the director now directly owns 47,488 shares of the company’s stock, valued at approximately $8,690,304. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 35,000 shares of Teledyne Technologies stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $192.92, for a total transaction of $6,752,200.00. Following the transaction, the chairman now directly owns 284,072 shares of the company’s stock, valued at $54,803,170.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,452 shares of company stock valued at $10,162,286. 3.73% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TDY. William Blair Investment Management LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth about $121,279,000. Cramer Rosenthal Mcglynn LLC purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $42,263,000. Westfield Capital Management Co. LP purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $27,400,000. CI Investments Inc. purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $20,298,000. Finally, Victory Capital Management Inc. purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $19,150,000. 85.03% of the stock is owned by hedge funds and other institutional investors.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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