Teledyne Technologies (NYSE:TDY) Downgraded by StockNews.com

Teledyne Technologies (NYSE:TDY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other research firms also recently issued reports on TDY. TD Cowen reduced their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday. Needham & Company LLC dropped their price objective on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $498.43.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $14.56 on Thursday, reaching $377.06. The company had a trading volume of 684,295 shares, compared to its average volume of 232,589. The stock has a market capitalization of $17.87 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The business’s 50-day moving average is $417.57 and its 200 day moving average is $414.64.

Teledyne Technologies (NYSE:TDY) last released 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). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.53 EPS. Equities research analysts forecast that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In related news, 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 $24,348,052. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now directly owns 56,492 shares of the company’s stock, valued at $24,348,052. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The stock was 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 directly owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,711 shares of company stock worth $2,890,621. 2.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 77,890 shares during the last quarter. Aristotle Capital Management LLC purchased a new stake in shares of Teledyne Technologies during the third quarter valued at $698,325,000. Kayne Anderson Rudnick Investment Management LLC boosted its position 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 buying an additional 193,544 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 buying an additional 151,659 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its position 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 buying an additional 9,843 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other 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.