Teledyne Technologies (NYSE:TDY) PT Raised to $528.00

Teledyne Technologies (NYSE:TDY) had its price target hoisted by Needham & Company LLC from $482.00 to $528.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $2.77 during trading hours on Thursday, reaching $472.86. The company had a trading volume of 4,547 shares, compared to its average volume of 239,840. Teledyne Technologies has a one year low of $355.41 and a one year high of $475.73. The business has a fifty day simple moving average of $434.94 and a 200 day simple moving average of $410.18. The firm has a market cap of $22.12 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $5.05 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds have recently modified their holdings of TDY. Tortoise Investment Management LLC grew its holdings in Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Teledyne Technologies by 3.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $279,000 after purchasing an additional 27 shares during the last quarter. Linscomb Wealth Inc. lifted its stake in shares of Teledyne Technologies by 4.4% during the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock worth $270,000 after buying an additional 29 shares during the period. Finally, MJP Associates Inc. ADV grew its holdings in shares of Teledyne Technologies by 5.6% during the second quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock valued at $234,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.