Teledyne Technologies (NYSE:TDY)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Friday, MarketBeat reports. They currently have a $248.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $240.00. Needham & Company LLC’s price target would suggest a potential upside of 8.65% from the stock’s current price.

Separately, Zacks Investment Research cut shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 10th.

NYSE:TDY opened at $228.25 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.04. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 3.38 and a beta of 1.11. Teledyne Technologies has a 1-year low of $177.68 and a 1-year high of $250.87.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 23rd. The scientific and technical instruments company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.27. The company had revenue of $748.40 million during the quarter, compared to analysts’ expectations of $728.04 million. Teledyne Technologies had a net margin of 11.50% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 EPS.

In other news, insider Robert Mehrabian sold 8,316 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $220.00, for a total transaction of $1,829,520.00. Following the transaction, the insider now owns 191,469 shares of the company’s stock, valued at $42,123,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth C. Dahlberg sold 6,106 shares of the stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $227.16, for a total transaction of $1,387,038.96. Following the transaction, the director now directly owns 12,834 shares in the company, valued at approximately $2,915,371.44. The disclosure for this sale can be found here. Insiders have sold 40,452 shares of company stock worth $9,083,309 in the last ninety days. Corporate insiders own 3.73% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in Teledyne Technologies during the fourth quarter worth about $36,000. O Shaughnessy Asset Management LLC raised its stake in Teledyne Technologies by 32.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 218 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 54 shares during the period. Nikko Asset Management Americas Inc. raised its stake in Teledyne Technologies by 205.4% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 281 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 189 shares during the period. Riverview Trust Co acquired a new stake in Teledyne Technologies during the fourth quarter worth about $86,000. Finally, Lido Advisors LLC acquired a new stake in Teledyne Technologies during the third quarter worth about $202,000. Hedge funds and other institutional investors own 84.35% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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