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Teledyne Technologies (TDY) Received its Third Buy in a Row

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After Jefferies and Needham gave Teledyne Technologies (NYSE: TDY) a Buy rating last month, the company received another Buy, this time from Berenberg Bank. Analyst Andrew Buscaglia maintained a Buy rating on Teledyne Technologies yesterday and set a price target of $595.00. The company’s shares closed last Tuesday at $417.98.

According to TipRanks.com, Buscaglia is a 1-star analyst with an average return of -1.8% and a 48.2% success rate. Buscaglia covers the Industrial Goods sector, focusing on stocks such as Badger Meter, Nordson, and Vontier.

Teledyne Technologies has an analyst consensus of Strong Buy, with a price target consensus of $561.25, a 31.1% upside from current levels. In a report issued on April 28, Needham also reiterated a Buy rating on the stock with a $520.00 price target.

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The company has a one-year high of $493.97 and a one-year low of $391.28. Currently, Teledyne Technologies has an average volume of 261.5K.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDY in relation to earlier this year. Most recently, in March 2022, Charles Crocker, a Director at TDY sold 4,000 shares for a total of $1,712,000.

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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