Teledyne Technologies (NYSE:TDY) Price Target Cut to $470.00

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Teledyne Technologies logoTeledyne Technologies (NYSE:TDY – Get Rating) had its target price decreased by Needham & Company LLC from $498.00 to $470.00 in a research report issued on Thursday, The Fly reports. Needham & Company LLC’s price objective points to a potential upside of 13.42% from the stock’s previous close.

Separately, StockNews.com initiated coverage on shares of Teledyne Technologies in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average target price of $485.67.

Teledyne Technologies Stock Up 0.8 %

Shares of NYSE:TDY opened at $414.40 on Thursday. Teledyne Technologies has a 52 week low of $325.00 and a 52 week high of $452.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.27 and a current ratio of 1.94. The company has a market capitalization of $19.47 billion, a PE ratio of 25.07, a PEG ratio of 3.12 and a beta of 1.08. The company has a 50 day moving average price of $427.76 and a two-hundred day moving average price of $412.47.

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Teledyne Technologies (NYSE:TDY – Get Rating) last issued its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 EPS for the quarter, beating the consensus estimate of $4.43 by $0.10. Teledyne Technologies had a net margin of 13.67% and a return on equity of 10.98%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $4.27 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that Teledyne Technologies will post 19.16 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

In other news, VP Stephen Finis Blackwood sold 3,333 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the sale, the vice president now owns 11,773 shares of the company’s stock, valued at $5,109,482. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, VP Stephen Finis Blackwood sold 3,333 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the transaction, the vice president now owns 11,773 shares in the company, valued at $5,109,482. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via the SEC website. Also, Director Charles Crocker sold 3,477 shares of the stock in a transaction on Monday, January 30th. The stock was sold at an average price of $422.00, for a total transaction of $1,467,294.00. Following the transaction, the director now owns 45,513 shares of the company’s stock, valued at approximately $19,206,486. The disclosure for this sale can be found here. Insiders sold 20,210 shares of company stock valued at $8,741,594 over the last quarter. Corporate insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TDY. Price T Rowe Associates Inc. MD boosted its holdings in Teledyne Technologies by 29.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,876,353 shares of the scientific and technical instruments company’s stock worth $2,350,012,000 after purchasing an additional 1,339,098 shares during the last quarter. Norges Bank acquired a new stake in Teledyne Technologies in the fourth quarter valued at $166,954,000. Durable Capital Partners LP acquired a new stake in Teledyne Technologies in the first quarter valued at $140,332,000. Findlay Park Partners LLP acquired a new stake in Teledyne Technologies in the third quarter valued at $67,821,000. Finally, Goldman Sachs Group Inc. lifted its stake in Teledyne Technologies by 60.4% in the first quarter. Goldman Sachs Group Inc. now owns 337,996 shares of the scientific and technical instruments company’s stock valued at $159,746,000 after acquiring an additional 127,218 shares during the last quarter. Institutional investors and hedge funds own 91.10% of the company’s stock.

Teledyne Technologies Company Profile

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Teledyne Technologies, Inc. engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.

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