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Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) – Investment analysts at Jefferies Financial Group dropped their Q1 2023 earnings per share estimates for shares of Teledyne Technologies in a report issued on Wednesday, February 1st. Jefferies Financial Group analyst G. Konrad now forecasts that the scientific and technical instruments company will post earnings per share of $4.46 for the quarter, down from their previous estimate of $4.62. The consensus estimate for Teledyne Technologies’ current full-year earnings is $19.22 per share. Jefferies Financial Group also issued estimates for Teledyne Technologies’ Q2 2023 earnings at $4.71 EPS, Q3 2023 earnings at $4.79 EPS, Q4 2023 earnings at $5.09 EPS, FY2024 earnings at $20.70 EPS and FY2025 earnings at $21.70 EPS.

Several other brokerages have also commented on TDY. Morgan Stanley upgraded Teledyne Technologies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $445.00 to $488.00 in a report on Monday, December 12th. StockNews.com began coverage on Teledyne Technologies in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group began coverage on Teledyne Technologies in a research note on Monday, December 12th. They issued an “outperform” rating and a $503.00 target price for the company. Finally, Needham & Company LLC raised their target price on Teledyne Technologies from $472.00 to $498.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $496.33.

Teledyne Technologies Stock Performance

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Shares of TDY opened at $434.03 on Thursday. Teledyne Technologies has a 12 month low of $325.00 and a 12 month high of $493.97. The stock has a fifty day moving average price of $410.29 and a 200-day moving average price of $390.76. The company has a current ratio of 1.85, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.34 billion, a PE ratio of 26.26, a P/E/G ratio of 3.07 and a beta of 1.08.

Teledyne Technologies (NYSE:TDY – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The scientific and technical instruments company reported $4.94 EPS for the quarter, beating the consensus estimate of $4.54 by $0.40. Teledyne Technologies has a return on equity of 11.01% and a net margin of 14.45%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $4.56 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year.

Insider Buying and Selling

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,046 shares of Teledyne Technologies stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $412.05, for a total transaction of $2,079,204.30. Following the completion of the transaction, the vice president now owns 4,457 shares in the company, valued at approximately $1,836,506.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. In other Teledyne Technologies news, VP Stephen Finis Blackwood sold 3,333 shares of Teledyne Technologies stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the transaction, the vice president now owns 11,773 shares in the company, valued at approximately $5,109,482. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. Also, VP Cynthia Y. Belak sold 5,046 shares of Teledyne Technologies 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 owns 4,457 shares of the company’s stock, valued at approximately $1,836,506.85. The disclosure for this sale can be found here. Insiders sold 40,315 shares of company stock worth $17,087,532 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Institutional investors have recently modified their holdings of the business. The State of New Jersey Common Pension Fund D grew its position in shares of Teledyne Technologies by 5.4% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 26,564 shares of the scientific and technical instruments company’s stock valued at $9,964,000 after acquiring an additional 1,365 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Teledyne Technologies by 66.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,679 shares of the scientific and technical instruments company’s stock valued at $5,502,000 after acquiring an additional 5,875 shares during the period. National Bank of Canada FI grew its position in shares of Teledyne Technologies by 461.4% during the 3rd quarter. National Bank of Canada FI now owns 39,676 shares of the scientific and technical instruments company’s stock valued at $13,516,000 after acquiring an additional 32,609 shares during the period. Ieq Capital LLC acquired a new stake in shares of Teledyne Technologies during the 3rd quarter valued at about $440,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Teledyne Technologies by 13.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,799 shares of the scientific and technical instruments company’s stock valued at $607,000 after acquiring an additional 212 shares during the period. 91.10% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Company Profile

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Teledyne Technologies, Inc. engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.

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