The Vanguard Group, Inc. recently announced the acquisition of new stake in Teledyne Technologies Incorporated (NYSE:TDY). The institutional investor has increased its shareholding in the Technology company by 0.92% to 5.04 million shares with purchase of 45992.0 shares. This fresh investment now brings its stake to 10.76% valued currently at $2.02 billion. In addition, T. Rowe Price Investment Manageme raised its holdings by 2.66 million to 2.66 million shares. And Select Equity Group LP has lifted its position by 0.00% or 80.0 shares – to 2.38 million shares.
With over 0.28 million Teledyne Technologies Incorporated (TDY) shares trading Tuesday and a closing price of $415.97 on the day, the dollar volume was approximately $117.69 million. The shares have shown a positive half year performance of 8.88% and its price on 01/17/23 lost nearly -0.04%. Currently, there are 46.80M common shares owned by the public and among those 46.26M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for TDY have a consensus price objective of $486.75. The analysts have set the share’s price value over the next 12 months at a high of $515.00 and a low of $449.00. The average price target is 14.54% above its recent price level and an upside to the estimated low will see the stock gain 7.36% over that period. But an upside of 19.23% will see the stock hit the forecast high price target while median target price for the stock is $494.00.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 60,632 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 28,440 shares.
The top 3 mutual fund holders in Teledyne Technologies Incorporated are Vanguard Total Stock Market Index, T Rowe Price Growth Stock Fund, and T Rowe Price Capital Appreciation. Vanguard Total Stock Market Index owns 1.41 million shares of the company’s stock, all valued at over $564.04 million. The company bought an additional 1575.0 shares recently to bring their total holdings to about 3.01% of the shares outstanding. T Rowe Price Growth Stock Fund sold 5613.0 shares to see its total holdings shrink to 1.36 million shares valued at over $544.55 million and representing 2.91% of the shares outstanding. T Rowe Price Capital Appreciation bought 0.55 million shares to bring its total holdings to over 1.3 million shares at a value of $518.83 million. T Rowe Price Capital Appreciation now owns shares totaling to 2.77% of the shares outstanding.
Shares of Teledyne Technologies Incorporated (NYSE: TDY) opened at $417.26, up $1.13 from a prior closing price of $416.13. However, the script later moved the day high at 420.85, down -0.04%. The company’s stock has a 5-day price change of 1.85% and 25.63% over the past three months. TDY shares are trading 4.02% year to date (YTD), with the 12-month market performance down to -1.66% lower. It has a 12-month low price of $325.00 and touched a high of $493.97 over the same period. TDY has an average intraday trading volume of 236.47K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.56%, 1.98%, and 4.74% respectively.
Institutional ownership of Teledyne Technologies Incorporated (NYSE: TDY) shares accounts for 93.90% of the company’s 46.80M shares outstanding. Mutual fund holders own 40.49%, while other institutional holders and individual stakeholders account for 51.99% and 3.40% respectively.
It has a market capitalization of $19.50B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 27.43, while the earnings-per-share (ttm) stands at $15.16. The company has a PEG of 3.60 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.53% over the week and 1.95% over the month.
Analysts forecast that Teledyne Technologies Incorporated (TDY) will achieve an EPS of $4.57 for the current quarter, $4.39 for the next quarter and $19.22 for 2023. The lowest estimate earnings-per-share for the quarter is $4.55 while analysts give the company a high EPS estimate of $4.61. Comparatively, EPS for the current quarter was $4.56 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.20%, and 7.25% over the next financial year. EPS should shrink at an annualized rate of 7.61% over the next five years, compared to 13.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Teledyne Technologies Incorporated (TDY) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 3 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TDY, a number of firms have released research notes about the stock. Credit Suisse stated their Outperform rating for the stock in a research note on December 13, 2022, with the firm’s price target at $503. Morgan Stanley coverage for the Teledyne Technologies Incorporated (TDY) stock in a research note released on December 12, 2022 offered a Equal-Weight rating with a price target of $488. Morgan Stanley was of a view on December 03, 2021 that the stock is Underweight, while Wolfe Research gave the stock Outperform rating on July 15, 2021, issuing a price target of $523. Goldman on their part issued Neutral rating on June 08, 2021.
