TD Cowen Trims Teledyne Technologies (NYSE:TDY) Target Price to $450.00

Teledyne Technologies (NYSE:TDY) had its target price dropped by research analysts at TD Cowen from $475.00 to $450.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s target price indicates a potential upside of 20.34% from the company’s previous close.

A number of other equities research analysts have also issued reports on TDY. Needham & Company LLC cut their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies has a consensus rating of “Buy” and a consensus price target of $498.43.

Teledyne Technologies Trading Up 3.2 %

NYSE:TDY traded up $11.44 during trading hours on Thursday, reaching $373.94. The company’s stock had a trading volume of 295,738 shares, compared to its average volume of 227,448. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.62 and a beta of 1.02. The firm has a 50-day simple moving average of $418.66 and a 200-day simple moving average of $414.90. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. Teledyne Technologies’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.53 EPS. Research analysts expect that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Insider Activity

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares in the company, valued at $24,348,052. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the transaction, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the transaction, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,711 shares of company stock valued at $2,890,621. Corporate insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new position in Teledyne Technologies in the fourth quarter worth approximately $28,000. Kapitalo Investimentos Ltda bought a new position in Teledyne Technologies in the fourth quarter worth approximately $29,000. CVA Family Office LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth $31,000. NBC Securities Inc. increased its stake in shares of Teledyne Technologies by 89.4% in the first quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 42 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Teledyne Technologies in the third quarter worth $44,000. Institutional investors 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.