Teledyne Technologies Incorporated (NYSE:TDY) – Equities research analysts at Jefferies Group raised their FY2017 earnings per share estimates for Teledyne Technologies in a research report issued on Thursday. Jefferies Group analyst H. Rubel now anticipates that the scientific and technical instruments company will earn $6.12 per share for the year, up from their prior forecast of $5.67. Jefferies Group currently has a “Hold” rating and a $145.00 target price on the stock. Jefferies Group also issued estimates for Teledyne Technologies’ Q1 2018 earnings at $1.49 EPS, Q2 2018 earnings at $1.61 EPS, Q3 2018 earnings at $1.67 EPS, Q4 2018 earnings at $1.73 EPS, FY2019 earnings at $6.90 EPS and FY2020 earnings at $7.35 EPS.
Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.49. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The firm had revenue of $671.10 million for the quarter, compared to analysts’ expectations of $636.18 million. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 24.3% on a year-over-year basis.
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TDY has been the subject of several other reports. Zacks Investment Research cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. BidaskClub cut shares of Teledyne Technologies from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Needham & Company LLC raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 target price for the company in a research note on Wednesday, July 5th.
Teledyne Technologies (NYSE TDY) opened at 147.13 on Monday. Teledyne Technologies has a 12-month low of $101.90 and a 12-month high of $148.24. The firm has a market capitalization of $5.19 billion, a PE ratio of 28.90 and a beta of 0.98. The company has a 50-day moving average price of $131.96 and a 200-day moving average price of $129.86.
In other Teledyne Technologies news, SVP Jason Vanwees sold 6,000 shares of Teledyne Technologies stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $147.07, for a total value of $882,420.00. Following the completion of the sale, the senior vice president now directly owns 35,159 shares of the company’s stock, valued at approximately $5,170,834.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas H. Reslewic bought 5,000 shares of the stock in a transaction on Thursday, June 29th. The stock was purchased at an average cost of $124.50 per share, with a total value of $622,500.00. The disclosure for this purchase can be found here. Insiders sold a total of 21,207 shares of company stock valued at $2,874,922 over the last ninety days. 3.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in TDY. Liberty Mutual Group Asset Management Inc. boosted its stake in Teledyne Technologies by 5.9% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 15,977 shares of the scientific and technical instruments company’s stock valued at $2,020,000 after buying an additional 889 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Teledyne Technologies by 4.0% in the first quarter. Ameriprise Financial Inc. now owns 135,005 shares of the scientific and technical instruments company’s stock valued at $17,074,000 after buying an additional 5,212 shares during the last quarter. Ironwood Investment Management LLC boosted its stake in Teledyne Technologies by 1.2% in the first quarter. Ironwood Investment Management LLC now owns 2,693 shares of the scientific and technical instruments company’s stock valued at $341,000 after buying an additional 32 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Teledyne Technologies by 0.8% in the first quarter. Retirement Systems of Alabama now owns 45,465 shares of the scientific and technical instruments company’s stock valued at $5,750,000 after buying an additional 343 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Teledyne Technologies by 3.1% in the first quarter. Arizona State Retirement System now owns 14,600 shares of the scientific and technical instruments company’s stock valued at $1,846,000 after buying an additional 439 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.
About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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