Teledyne Technologies (NYSE:TDY) Price Target Raised to $550.00

Teledyne Technologies (NYSE:TDY) had its price target lifted by Needham & Company LLC from $528.00 to $550.00 in a research note published on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the scientific and technical instruments company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Finally, TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Stock Down 0.3 %

Shares of NYSE TDY opened at $486.57 on Monday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.67 billion, a PE ratio of 24.60, a P/E/G ratio of 3.39 and a beta of 1.01. The company’s fifty day simple moving average is $448.38 and its 200 day simple moving average is $417.49. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $492.00.

Teledyne Technologies (NYSE:TDY) last released 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 analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $5.05 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Teledyne Technologies will post 19.44 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Teledyne Technologies

Hedge funds have recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in Teledyne Technologies by 24.6% during the first quarter. Empowered Funds LLC now owns 588 shares of the scientific and technical instruments company’s stock worth $252,000 after buying an additional 116 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of Teledyne Technologies by 11.1% in the 1st quarter. Forsta AP Fonden now owns 9,000 shares of the scientific and technical instruments company’s stock worth $3,864,000 after purchasing an additional 900 shares during the period. US Bancorp DE lifted its stake in Teledyne Technologies by 1.7% in the first quarter. US Bancorp DE now owns 7,696 shares of the scientific and technical instruments company’s stock valued at $3,304,000 after purchasing an additional 130 shares during the last quarter. ProShare Advisors LLC grew its holdings in Teledyne Technologies by 14.3% during the first quarter. ProShare Advisors LLC now owns 9,907 shares of the scientific and technical instruments company’s stock valued at $4,253,000 after purchasing an additional 1,238 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Teledyne Technologies by 15.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,978 shares of the scientific and technical instruments company’s stock worth $1,279,000 after buying an additional 401 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

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.