Teledyne Technologies (NYSE:TDY) Rating Increased to Equal Weight at Morgan Stanley – MarketBeat
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Analysts at Credit Suisse Group assumed coverage on shares of Teledyne Technologies (NYSE:TDY – Get Rating) in a report released on Monday, The Fly reports. The firm set an “outperform” rating on the scientific and technical instruments company’s stock.
A number of other research firms also recently weighed in on TDY. Morgan Stanley upgraded Teledyne Technologies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $445.00 to $488.00 in a research note on Monday. StockNews.com initiated coverage on shares of Teledyne Technologies in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $480.00.
Teledyne Technologies Stock Up 3.5 %
Shares of TDY traded up $14.11 on Monday, hitting $419.80. The company’s stock had a trading volume of 272,452 shares, compared to its average volume of 269,969. The company has a quick ratio of 1.19, a current ratio of 1.78 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 3.18 and a beta of 1.09. The firm’s fifty day moving average price is $386.75 and its 200-day moving average price is $383.41. Teledyne Technologies has a fifty-two week low of $325.00 and a fifty-two week high of $493.97.
Teledyne Technologies (NYSE:TDY – Get Rating) last posted its quarterly earnings data on Wednesday, October 26th. The scientific and technical instruments company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $4.30 by $0.24. Teledyne Technologies had a return on equity of 10.95% and a net margin of 13.37%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, equities research analysts expect that Teledyne Technologies will post 17.77 EPS for the current year.
Insiders Place Their Bets
In other news, VP Cynthia Y. Belak sold 5,046 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $412.05, for a total transaction of $2,079,204.30. Following the completion of the sale, the vice president now owns 4,457 shares in the company, valued at approximately $1,836,506.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,046 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $412.05, for a total value of $2,079,204.30. Following the transaction, the vice president now directly owns 4,457 shares of the company’s stock, valued at approximately $1,836,506.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Schack Wesley W. Von sold 1,459 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $423.99, for a total value of $618,601.41. Following the sale, the director now owns 11,924 shares of the company’s stock, valued at approximately $5,055,656.76. The disclosure for this sale can be found here. Insiders sold a total of 10,505 shares of company stock valued at $4,375,766 over the last ninety days. 2.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Teledyne Technologies
Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in Teledyne Technologies by 2.0% during the first quarter. Principal Financial Group Inc. now owns 57,809 shares of the scientific and technical instruments company’s stock worth $27,322,000 after purchasing an additional 1,144 shares during the period. Treasurer of the State of North Carolina increased its stake in Teledyne Technologies by 1.5% in the first quarter. Treasurer of the State of North Carolina now owns 17,559 shares of the scientific and technical instruments company’s stock valued at $8,299,000 after acquiring an additional 268 shares during the last quarter. B. Metzler seel. Sohn & Co. AG raised its position in Teledyne Technologies by 3.7% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 1,671 shares of the scientific and technical instruments company’s stock valued at $790,000 after purchasing an additional 59 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Teledyne Technologies during the first quarter worth $145,000. Finally, Wealth Alliance bought a new position in shares of Teledyne Technologies in the 1st quarter valued at $218,000. 89.77% of the stock is currently owned by institutional investors.
About Teledyne Technologies
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Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the Netherlands, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
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