Teledyne Technologies (NYSE:TDY) Price Target Raised to $550.00 at Needham & Company LLC

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

TDY has been the subject of a number of other reports. Vertical Research began coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $450.00 to $550.00 in a report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Stock Down 0.3 %

Shares of TDY stock opened at $487.62 on Monday. The stock has a market cap of $22.72 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. Teledyne Technologies has a one year low of $355.41 and a one year high of $492.00. The stock has a fifty day moving average price of $444.79 and a 200 day moving average price of $415.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $5.05 earnings per share. Analysts predict that Teledyne Technologies will post 19.44 earnings per share for the current year.

Institutional Trading of Teledyne Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC acquired a new stake in Teledyne Technologies in the third quarter worth about $27,000. American National Bank acquired a new stake in Teledyne Technologies in the second quarter worth about $28,000. Innealta Capital LLC acquired a new stake in Teledyne Technologies in the second quarter worth about $28,000. Tortoise Investment Management LLC increased its position 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 period. Finally, Crewe Advisors LLC increased its position in Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.