Teledyne Technologies (NYSE:TDY) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Teledyne Technologies (NYSE:TDY) from a buy rating to a hold rating in a research report released on Friday morning.

TDY has been the subject of a number of other reports. TD Cowen cut their price target 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. Bank of America downgraded shares of Teledyne Technologies from a buy rating to a neutral rating and cut their price target for the company from $490.00 to $400.00 in a report on Friday, April 26th. Vertical Research started coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a buy rating and a $470.00 price objective for the company. Finally, Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a buy rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Teledyne Technologies presently has an average rating of Moderate Buy and a consensus target price of $474.57.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $421.56 on Friday. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $448.19. The company has a current ratio of 1.98, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28. The stock has a market cap of $19.97 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00. The company’s 50-day moving average price is $394.20 and its two-hundred day moving average price is $408.73.

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

Institutional Trading of Teledyne Technologies

A number of hedge funds have recently bought and sold shares of the company. American National Bank acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at about $28,000. Kapitalo Investimentos Ltda acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $29,000. CVA Family Office LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $31,000. NBC Securities Inc. increased its holdings in shares of Teledyne Technologies by 89.4% in the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 42 shares during the period. Finally, Creekmur Asset Management LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $45,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

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.