Needham & Company LLC Increases Teledyne Technologies (NYSE:TDY) Price Target to $528.00

Teledyne Technologies (NYSE:TDY) had its target price boosted by equities research analysts at Needham & Company LLC from $482.00 to $528.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 12.53% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Vertical Research initiated coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average price target of $474.50.

Teledyne Technologies Stock Performance

TDY opened at $469.19 on Thursday. The firm’s fifty day simple moving average is $435.99 and its two-hundred day simple moving average is $410.56. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $475.73. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.11 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TDY. Wellington Management Group LLP raised its stake in Teledyne Technologies by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 5,664 shares of the scientific and technical instruments company’s stock worth $2,528,000 after purchasing an additional 99 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Teledyne Technologies by 20.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,683 shares of the scientific and technical instruments company’s stock valued at $723,000 after buying an additional 280 shares during the period. Thrive Wealth Management LLC acquired a new position in Teledyne Technologies in the first quarter valued at approximately $216,000. Fifth Third Wealth Advisors LLC acquired a new position in Teledyne Technologies in the first quarter valued at approximately $216,000. Finally, SteelPeak Wealth LLC grew its position in Teledyne Technologies by 212.1% in the first quarter. SteelPeak Wealth LLC now owns 1,682 shares of the scientific and technical instruments company’s stock worth $722,000 after acquiring an additional 1,143 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

About Teledyne Technologies

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.