Teledyne Technologies (TDY) Coverage Initiated at Cowen

Research analysts at Cowen initiated coverage on shares of Teledyne Technologies (NYSE:TDY) in a report released on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $265.00 price target on the scientific and technical instruments company’s stock. Cowen’s target price suggests a potential upside of 10.53% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $248.00 target price (up from $240.00) on shares of Teledyne Technologies in a research note on Friday, March 15th. Zacks Investment Research cut shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 10th.

Shares of TDY stock traded down $0.45 during trading on Tuesday, hitting $239.76. 4,467 shares of the company were exchanged, compared to its average volume of 169,481. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.04 and a current ratio of 1.55. The stock has a market cap of $8.58 billion, a P/E ratio of 26.98, a P/E/G ratio of 3.38 and a beta of 1.10. Teledyne Technologies has a twelve month low of $177.68 and a twelve month high of $250.87.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 23rd. The scientific and technical instruments company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.18 by $0.27. The business had revenue of $748.40 million during the quarter, compared to analysts’ expectations of $728.04 million. Teledyne Technologies had a net margin of 11.50% and a return on equity of 14.97%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $1.82 earnings per share. Sell-side analysts predict that Teledyne Technologies will post 9.35 EPS for the current year.

In other Teledyne Technologies news, Director Paul David Miller sold 10,030 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $225.00, for a total value of $2,256,750.00. Following the completion of the sale, the director now directly owns 21,653 shares in the company, valued at $4,871,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Smith sold 551 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $235.05, for a total transaction of $129,512.55. Following the completion of the sale, the director now owns 36,638 shares of the company’s stock, valued at $8,611,761.90. The disclosure for this sale can be found here. Insiders sold 41,003 shares of company stock valued at $9,212,822 over the last quarter. Corporate insiders own 3.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TDY. Lido Advisors LLC bought a new position in shares of Teledyne Technologies in the third quarter valued at approximately $202,000. Bank of New York Mellon Corp raised its position in shares of Teledyne Technologies by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 505,762 shares of the scientific and technical instruments company’s stock valued at $124,761,000 after purchasing an additional 14,769 shares during the period. Clearbridge Investments LLC raised its position in shares of Teledyne Technologies by 3.4% in the third quarter. Clearbridge Investments LLC now owns 384,849 shares of the scientific and technical instruments company’s stock valued at $94,935,000 after purchasing an additional 12,721 shares during the period. Citigroup Inc. raised its position in shares of Teledyne Technologies by 47.7% in the fourth quarter. Citigroup Inc. now owns 14,548 shares of the scientific and technical instruments company’s stock valued at $3,013,000 after purchasing an additional 4,700 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of Teledyne Technologies by 5.2% in the third quarter. Brown Advisory Inc. now owns 7,678 shares of the scientific and technical instruments company’s stock valued at $1,893,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 84.74% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. 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 deployed in mission critical and harsh environments.

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