Needham & Company LLC Increases Teledyne Technologies (NYSE:TDY) Price Target to $482.00

Teledyne Technologies (NYSE:TDY) had its price objective lifted by Needham & Company LLC from $455.00 to $482.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Other equities analysts have also recently issued research reports about the company. TD Cowen lowered their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a report on Thursday, April 25th. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Bank of America cut Teledyne Technologies from a buy rating to a neutral rating and decreased their price target for the company from $490.00 to $400.00 in a research note on Friday, April 26th. Finally, 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 for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $474.57.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $421.56 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $448.19. The company has a market cap of $19.97 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.97 and a beta of 1.00. The business has a fifty day simple moving average of $394.20 and a 200 day simple moving average of $408.73.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $4.67 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies will post 19.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TDY. Norges Bank bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at about $243,111,000. Maren Capital LLC bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at about $82,700,000. Public Sector Pension Investment Board boosted its position in shares of Teledyne Technologies by 1,755.0% during the 4th quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock valued at $41,650,000 after purchasing an additional 88,294 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Teledyne Technologies by 235.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after purchasing an additional 87,925 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Teledyne Technologies by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after purchasing an additional 77,890 shares in the last quarter. 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.