Needham & Company LLC Issues Positive Forecast for Teledyne Technologies (NYSE:TDY) Stock Price

Teledyne Technologies (NYSE:TDY) had its target price raised by investment analysts at Needham & Company LLC from $585.00 to $615.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 13.31% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Teledyne Technologies in a research report on Wednesday, October 8th. Barclays began coverage on shares of Teledyne Technologies in a research report on Wednesday, October 8th. They set an “equal weight” rating and a $606.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Teledyne Technologies from $580.00 to $620.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Finally, UBS Group boosted their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Teledyne Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $593.38.

Teledyne Technologies Price Performance

TDY opened at $542.75 on Thursday. The company has a 50-day moving average of $558.98 and a 200-day moving average of $521.47. The company has a market capitalization of $25.45 billion, a P/E ratio of 29.89, a PEG ratio of 2.66 and a beta of 1.11. Teledyne Technologies has a 1-year low of $419.00 and a 1-year high of $595.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 earnings per share for the quarter, topping the consensus estimate of $5.47 by $0.10. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $5.10 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Teledyne Technologies has set its FY 2025 guidance at 21.450-21.600 EPS. Q4 2025 guidance at 5.730-5.880 EPS. Equities analysts expect that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Teledyne Technologies announced that its board has approved a stock repurchase plan on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the sale, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. The trade was a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the sale, the director owned 61,913 shares in the company, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,021 shares of company stock valued at $8,315,662 over the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its stake in Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 35 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Teledyne Technologies by 75.9% in the second quarter. SBI Securities Co. Ltd. now owns 51 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 22 shares in the last quarter. Rexford Capital Inc. bought a new stake in Teledyne Technologies in the second quarter worth $29,000. TCTC Holdings LLC boosted its holdings in Teledyne Technologies by 97.4% in the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 37 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Teledyne Technologies by 52.9% in the second quarter. First Horizon Advisors Inc. now owns 78 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds 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.