Teledyne Technologies (TDY) Receives a New Rating from a Top Analyst


In a report released today, James Ricchiuti from Needham assigned a Buy rating to Teledyne Technologies (TDY), with a price target of $416.00. The company’s shares closed last Wednesday at $386.02, close to its 52-week high of $398.68.

According to TipRanks.com, Ricchiuti is a top 100 analyst with an average return of 24.2% and a 68.8% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Faro Technologies, and Universal Display.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Teledyne Technologies with a $404.00 average price target.

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Based on Teledyne Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $749 million and net profit of $93.9 million. In comparison, last year the company earned revenue of $802 million and had a net profit of $107 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TDY in relation to earlier this year. Most recently, in December 2020, Simon Lorne, a Director at TDY bought 3,138 shares for a total of $94,991.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 & Defense Electronics; and Engineered Systems. The Instrumentation segment includes monitoring and control instruments for marine, environmental, and industrial applications. The Digital Imaging segment offers sensors, cameras, and infrared systems. The Aerospace & Defense Electronics segment provides electronic components, data acquisition, subsystems, and communications equipment. The Engineered Systems segment develops and produces electrochemical energy systems and small turbine engines. The company was founded in 1960 and is headquartered in Thousand Oaks, CA.

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