TD Cowen Increases Teledyne Technologies (NYSE:TDY) Price Target to $500.00

Teledyne Technologies (NYSE:TDY) had its price objective hoisted by equities researchers at TD Cowen from $450.00 to $500.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price target indicates a potential upside of 6.57% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Needham & Company LLC upped their target price on Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a report on Thursday. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $474.50.

Teledyne Technologies Stock Down 0.8 %

Shares of NYSE:TDY opened at $469.19 on Thursday. The stock 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 business’s 50 day moving average is $435.99 and its 200 day moving average is $410.56. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $475.73. 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 released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $5.05 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its stake in shares of Teledyne Technologies by 46.2% in the first quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company’s stock worth $1,786,000 after purchasing an additional 1,315 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Teledyne Technologies by 11.2% in the first quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock worth $114,644,000 after acquiring an additional 26,793 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Teledyne Technologies by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock valued at $21,602,000 after purchasing an additional 1,665 shares during the last quarter. SG Americas Securities LLC lifted its position in Teledyne Technologies by 49.8% during the first quarter. SG Americas Securities LLC now owns 13,349 shares of the scientific and technical instruments company’s stock valued at $5,731,000 after purchasing an additional 4,440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Teledyne Technologies by 38.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,781 shares of the scientific and technical instruments company’s stock worth $5,487,000 after purchasing an additional 3,532 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.