Teledyne Technologies Incorporated (TDY) Given “Hold” Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Teledyne Technologies Incorporated (NYSE:TDY) in a report issued on Friday morning. The firm currently has a $145.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $140.00.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Teledyne Technologies from a buy rating to a hold rating in a research note on Thursday, April 6th. BidaskClub downgraded Teledyne Technologies from a hold rating to a sell rating in a research note on Friday, June 9th. Finally, Needham & Company LLC raised Teledyne Technologies from a hold rating to a buy rating and set a $148.00 price objective on the stock in a research note on Wednesday, July 5th.
Shares of Teledyne Technologies (TDY) traded up 0.97% during midday trading on Friday, hitting $135.68. The company’s stock had a trading volume of 231,437 shares. The company has a 50-day moving average price of $129.59 and a 200 day moving average price of $128.14. The company has a market cap of $4.79 billion, a P/E ratio of 26.65 and a beta of 0.98. Teledyne Technologies has a 1-year low of $101.90 and a 1-year high of $137.00.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Thursday, May 4th. The scientific and technical instruments company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.51. The company had revenue of $566.10 million for the quarter, compared to the consensus estimate of $539.40 million. Teledyne Technologies had a return on equity of 13.28% and a net margin of 8.31%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. On average, equities research analysts predict that Teledyne Technologies will post $5.27 EPS for the current year.
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In other news, VP Thomas H. Reslewic purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The shares were acquired at an average cost of $124.50 per share, with a total value of $622,500.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul David Miller sold 4,590 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $130.00, for a total value of $596,700.00. Following the transaction, the director now directly owns 21,992 shares in the company, valued at $2,858,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,207 shares of company stock worth $1,992,502. 3.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in Teledyne Technologies during the fourth quarter worth $142,000. Neuburgh Advisers LLC increased its position in Teledyne Technologies by 17.7% in the first quarter. Neuburgh Advisers LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $148,000 after buying an additional 176 shares during the period. Glen Harbor Capital Management LLC increased its position in Teledyne Technologies by 17.7% in the first quarter. Glen Harbor Capital Management LLC now owns 1,606 shares of the scientific and technical instruments company’s stock worth $203,000 after buying an additional 242 shares during the period. HighTower Advisors LLC purchased a new position in Teledyne Technologies during the first quarter worth $219,000. Finally, Elkfork Partners LLC increased its position in Teledyne Technologies by 17.7% in the first quarter. Elkfork Partners LLC now owns 2,044 shares of the scientific and technical instruments company’s stock worth $259,000 after buying an additional 308 shares during the period. 83.57% of the stock is currently owned by institutional investors and hedge funds.
About Teledyne Technologies
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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