Teledyne Technologies (NYSE:TDY) Given New $455.00 Price Target at Needham & Company LLC

Teledyne Technologies (NYSE:TDY) had its price objective lowered by Needham & Company LLC from $510.00 to $455.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price suggests a potential upside of 25.52% from the company’s current price.

Separately, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Buy” and a consensus target price of $506.50.

Teledyne Technologies Trading Down 10.9 %

Teledyne Technologies stock opened at $362.50 on Thursday. The stock has a market cap of $17.18 billion, a P/E ratio of 19.59, a PEG ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The firm’s 50 day moving average price is $418.66 and its 200-day moving average price is $414.90.

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

Insiders Place Their Bets

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the sale, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the sale, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 over the last three months. 2.14% of the stock is owned by company insiders.

Institutional Trading of Teledyne Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock worth $2,462,593,000 after purchasing an additional 77,890 shares in the last quarter. Aristotle Capital Management LLC acquired a new position in shares of Teledyne Technologies during the third quarter valued at about $698,325,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Teledyne Technologies by 26.3% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after acquiring an additional 193,544 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Teledyne Technologies by 19.7% during the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after acquiring an additional 151,659 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of Teledyne Technologies by 1.6% during the fourth quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock valued at $273,586,000 after acquiring an additional 9,843 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

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.