Teledyne Technologies Incorporated (NYSE:TDY) Stock Has Average Price Target of $723.33

by · The Markets Daily

Shares of Teledyne Technologies Incorporated (NYSE:TDY – Get Free Report) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $723.33.

A number of research firms recently weighed in on TDY. Zacks Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Stifel Nicolaus upped their price objective on shares of Teledyne Technologies from $750.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Citigroup increased their price target on shares of Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of Teledyne Technologies in a research report on Wednesday, August 19th. Finally, Morgan Stanley boosted their price target on Teledyne Technologies from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th.

Check Out Our Latest Report on TDY

Insider Activity

In other news, Director Simon Lorne sold 6,449 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the sale, the director directly owned 55,783 shares of the company’s stock, valued at approximately $37,951,406.22. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Large investors have recently modified their holdings of the business. Maren Capital LLC boosted its holdings in Teledyne Technologies by 4.1% in the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company’s stock valued at $251,373,000 after purchasing an additional 14,806 shares during the period. Core Capital Management & Research inc. purchased a new position in shares of Teledyne Technologies during the 2nd quarter valued at $3,035,000. Royal Bank of Canada increased its holdings in shares of Teledyne Technologies by 1.9% in the first quarter. Royal Bank of Canada now owns 214,721 shares of the scientific and technical instruments company’s stock worth $129,908,000 after purchasing an additional 4,062 shares during the period. Nykredit A S bought a new position in shares of Teledyne Technologies in the second quarter worth $12,911,000. Finally, BlackRock Inc. bought a new position in shares of Teledyne Technologies in the second quarter worth $2,751,121,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 1.4%

NYSE:TDY opened at $628.44 on Friday. Teledyne Technologies has a 1 year low of $483.02 and a 1 year high of $697.67. The stock has a 50-day moving average price of $620.19 and a two-hundred day moving average price of $631.16. The stock has a market cap of $29.13 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 2.70 and a beta of 0.89. The company has a current ratio of 2.18, a quick ratio of 1.39 and a debt-to-equity ratio of 0.19.

Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $6.28 EPS for the quarter, topping the consensus estimate of $5.79 by $0.49. Teledyne Technologies had a net margin of 15.29% and a return on equity of 10.56%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company posted $5.20 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Teledyne Technologies will post 24.69 earnings per share for the current year.

Teledyne Technologies Company Profile

(Get Free Report)

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.

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