Key Points
- Teledyne VP Cynthia Belak sold 4,528 shares at an average of $657.45, worth about $2.98 million, reducing her stake by 49.38% to 4,642 shares.
- The company beat quarterly expectations, reporting EPS of $6.72 versus $6.17 forecast and revenue of $1.68 billion versus $1.65 billion; revenue rose 9.4% year over year.
- Analysts have a consensus “Moderate Buy” rating and an average price target of $731.83. Shares were recently trading around $647.
Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) VP Cynthia Belak sold 4,528 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $657.45, for a total value of $2,976,933.60. Following the completion of the transaction, the vice president owned 4,642 shares of the company's stock, valued at approximately $3,051,882.90. The trade was a 49.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Teledyne Technologies Trading Down 0.6%
NYSE TDY opened at $647.44 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. Teledyne Technologies Incorporated has a twelve month low of $483.02 and a twelve month high of $697.67. The firm has a market capitalization of $29.81 billion, a PE ratio of 25.94, a P/E/G ratio of 2.40 and a beta of 0.89. The stock's 50 day moving average is $621.28 and its 200 day moving average is $635.35.
Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.17 by $0.55. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.57 earnings per share. Research analysts forecast that Teledyne Technologies Incorporated will post 25.58 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $27,000. Elevation Wealth Partners LLC increased its position in shares of Teledyne Technologies by 1,025.0% during the third quarter. Elevation Wealth Partners LLC now owns 45 shares of the scientific and technical instruments company's stock valued at $27,000 after acquiring an additional 41 shares in the last quarter. Allied Private Wealth LLC bought a new stake in shares of Teledyne Technologies during the second quarter valued at approximately $28,000. Trust Co. of Vermont purchased a new position in Teledyne Technologies in the 2nd quarter worth approximately $28,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in Teledyne Technologies in the 3rd quarter worth approximately $28,000. Institutional investors own 91.58% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on TDY. Weiss Ratings raised shares of Teledyne Technologies from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 29th. Zacks Research cut Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays boosted their target price on Teledyne Technologies from $640.00 to $646.00 and gave the stock an "equal weight" rating in a report on Monday, October 26th. Morgan Stanley increased their target price on Teledyne Technologies from $715.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 3rd. Finally, Stifel Nicolaus raised their price target on Teledyne Technologies from $775.00 to $795.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $731.83.
Get Our Latest Analysis on Teledyne Technologies
Teledyne Technologies Company Profile
(
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Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection. The company's businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.
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