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 report sent to investors on Friday morning.

Several other equities research analysts have also commented on the stock. Bank of America lowered shares of Teledyne Technologies from a buy rating to a neutral rating and reduced their price target for the company from $490.00 to $400.00 in a research report on Friday, April 26th. Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a buy rating and a $470.00 target price for the company. TD Cowen reduced their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC increased their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a buy rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Teledyne Technologies has an average rating of Moderate Buy and a consensus price target of $474.57.

Teledyne Technologies Price Performance

TDY opened at $423.04 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The stock has a market capitalization of $20.04 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.97 and a beta of 1.00. The company’s 50-day simple moving average is $394.51 and its two-hundred day simple moving average is $408.61. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business earned $4.67 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts predict that Teledyne Technologies will post 19.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Teledyne Technologies by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock valued at $2,375,905,000 after acquiring an additional 16,189 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Teledyne Technologies by 3.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock valued at $676,041,000 after acquiring an additional 48,397 shares during the last quarter. King Luther Capital Management Corp lifted its position in Teledyne Technologies by 1.6% in 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 buying an additional 9,843 shares during the last quarter. Norges Bank bought a new stake in Teledyne Technologies in the fourth quarter worth $243,111,000. Finally, Northern Trust Corp lifted its position in Teledyne Technologies by 1.9% in 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 buying an additional 9,455 shares during the last quarter. 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.