StockNews.com Lowers Teledyne Technologies (NYSE:TDY) to Hold

StockNews.com lowered shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on TDY. TD Cowen decreased their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a research note on Thursday, April 25th. Vertical Research began coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a buy rating and a $470.00 target price for the company. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Bank of America downgraded shares of Teledyne Technologies from a buy rating to a neutral rating and decreased their target price for the company from $490.00 to $400.00 in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $474.57.

Teledyne Technologies Trading Up 0.4 %

Shares of TDY opened at $423.04 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19. The stock has a market cap of $20.04 billion, a PE ratio of 22.88, a P/E/G ratio of 2.97 and a beta of 1.00. The stock’s 50-day moving average is $394.51 and its two-hundred day moving average is $408.61.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company posted $4.67 EPS. Teledyne Technologies’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities analysts forecast that Teledyne Technologies will post 19.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Teledyne Technologies by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock worth $2,375,905,000 after purchasing an additional 16,189 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Teledyne Technologies by 3.2% during the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock worth $676,041,000 after purchasing an additional 48,397 shares during the period. King Luther Capital Management Corp raised its holdings 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 worth $273,586,000 after purchasing an additional 9,843 shares during the period. Norges Bank acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $243,111,000. Finally, Northern Trust Corp raised its holdings in shares of Teledyne Technologies by 1.9% during the fourth quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company’s stock worth $231,774,000 after purchasing an additional 9,455 shares during the period. 91.58% of the stock is currently owned by 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.