Zacks Investment Research upgraded shares of Teledyne Technologies Inc. (NYSE:TDY) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $120.00 price objective on the stock.
According to Zacks, “Teledyne Technologies Inc. is a leading provider of sophisticated electronic and communication products, systems engineering solutions and information technology services, and aerospace engines and components. The company customers include aerospace prime contractors, general aviation companies, government agencies and major communications and other commercial companies. “
Other equities analysts have also recently issued research reports about the company. Jefferies Group boosted their price target on Teledyne Technologies from $90.00 to $105.00 and gave the stock a hold rating in a report on Friday, August 5th. CL King cut Teledyne Technologies from a buy rating to a neutral rating and set a $107.00 target price for the company. in a report on Wednesday, July 6th.
Teledyne Technologies (NYSE:TDY) traded down 0.79% during trading on Wednesday, reaching $106.75. The company had a trading volume of 11,738 shares. Teledyne Technologies has a 12-month low of $73.66 and a 12-month high of $110.61. The firm’s 50 day moving average price is $107.32 and its 200 day moving average price is $99.51. The firm has a market capitalization of $3.70 billion, a PE ratio of 20.06 and a beta of 0.94.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.08. Teledyne Technologies had a return on equity of 13.03% and a net margin of 8.46%. The company earned $534.90 million during the quarter, compared to analysts’ expectations of $546.57 million. During the same quarter in the previous year, the firm earned $1.34 EPS. Teledyne Technologies’s revenue was down 6.7% on a year-over-year basis. Analysts anticipate that Teledyne Technologies will post $5.16 earnings per share for the current year.
In other Teledyne Technologies news, SVP Jason Vanwees sold 3,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $105.44, for a total value of $316,320.00. Following the sale, the senior vice president now owns 31,017 shares in the company, valued at approximately $3,270,432.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul David Miller sold 4,695 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $108.56, for a total value of $509,689.20. Following the completion of the sale, the director now owns 21,257 shares in the company, valued at approximately $2,307,659.92. The disclosure for this sale can be found here. 3.93% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Virginia Retirement System bought a new stake in Teledyne Technologies during the first quarter worth approximately $1,304,000. Ngam Advisors L.P. raised its stake in Teledyne Technologies by 28.0% in the first quarter. Ngam Advisors L.P. now owns 39,983 shares of the company’s stock worth $3,525,000 after buying an additional 8,758 shares during the period. BlackRock Inc. raised its stake in Teledyne Technologies by 3.7% in the first quarter. BlackRock Inc. now owns 13,820 shares of the company’s stock worth $1,218,000 after buying an additional 498 shares during the period. BlackRock Group LTD raised its stake in Teledyne Technologies by 23.6% in the first quarter. BlackRock Group LTD now owns 21,789 shares of the company’s stock worth $1,921,000 after buying an additional 4,164 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in Teledyne Technologies during the first quarter worth approximately $805,000. Hedge funds and other institutional investors own 87.85% of the company’s stock.
About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to a range of markets, which include deepwater oil and gas exploration and production, oceanographic research, and air and water quality environmental monitoring. Its products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, and electronic test and measurement equipment.
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