Teledyne Technologies (NYSE:TDY) Receives New Coverage from Analysts at Vertical Research

Vertical Research began coverage on shares of Teledyne Technologies (NYSE:TDY) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $470.00 target price on the scientific and technical instruments company’s stock.

Other analysts have also issued research reports about the company. TD Cowen dropped their price target on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a research note on Thursday, April 25th. Needham & Company LLC decreased their price objective on Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a report on Thursday, April 25th. Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and reduced their price target for the company from $490.00 to $400.00 in a report on Friday, April 26th. Finally, StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $474.57.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $421.56 on Tuesday. The firm has a market cap of $19.97 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.94 and a beta of 1.00. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.98. The business has a 50 day moving average price of $394.20 and a 200-day moving average price of $409.16.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.67 earnings per share. Equities research analysts predict that Teledyne Technologies will post 19.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Teledyne Technologies by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock valued at $2,375,905,000 after buying an additional 16,189 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Teledyne Technologies by 3.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock valued at $676,041,000 after buying an additional 48,397 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Teledyne Technologies by 1.6% during the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock valued at $273,586,000 after buying an additional 9,843 shares in the last quarter. Norges Bank purchased a new position in shares of Teledyne Technologies during the 4th quarter valued at about $243,111,000. Finally, Northern Trust Corp lifted its position in shares of Teledyne Technologies by 1.9% during the 4th quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company’s stock valued at $231,774,000 after buying an additional 9,455 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other 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.