Teledyne Technologies (NYSE:TDY) Price Target Cut to $455.00 by Analysts at Needham & Company LLC

Teledyne Technologies (NYSE:TDY) had its price objective trimmed by Needham & Company LLC from $510.00 to $455.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Separately, StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Teledyne Technologies currently has a consensus rating of Moderate Buy and a consensus target price of $474.86.

Teledyne Technologies Trading Up 4.0 %

TDY stock opened at $377.06 on Thursday. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.48 and a beta of 1.02. The business has a 50 day simple moving average of $417.57 and a two-hundred day simple moving average of $414.64.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.53 earnings per share. Research analysts anticipate that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the transaction, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s 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 sale, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock worth $2,890,621 over the last quarter. Company insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Teledyne Technologies by 18.0% in the third quarter. Barclays PLC now owns 99,504 shares of the scientific and technical instruments company’s stock valued at $40,656,000 after buying an additional 15,169 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $2,325,000. Grandfield & Dodd LLC increased its position in shares of Teledyne Technologies by 11.2% in the fourth quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after buying an additional 3,111 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Teledyne Technologies by 21.5% in the third quarter. Metis Global Partners LLC now owns 1,715 shares of the scientific and technical instruments company’s stock valued at $701,000 after buying an additional 303 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $934,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

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.