Needham & Company LLC Increases Teledyne Technologies (NYSE:TDY) Price Target to $528.00

Teledyne Technologies (NYSE:TDY) had its price target increased by Needham & Company LLC from $482.00 to $528.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Several other research firms have also weighed in on TDY. Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $469.19 on Thursday. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $475.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The firm has a market cap of $22.23 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. The firm’s 50-day simple moving average is $435.99 and its 200-day simple moving average is $410.52.

Teledyne Technologies (NYSE:TDY) last issued its earnings results 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. The business 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 10.27% and a net margin of 15.86%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.05 EPS. As a group, research analysts expect that Teledyne Technologies will post 19.43 EPS for the current fiscal year.

Institutional Trading of Teledyne Technologies

Hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in Teledyne Technologies by 17.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after purchasing an additional 186,849 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Teledyne Technologies by 235.6% in 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 buying an additional 87,925 shares in the last quarter. International Assets Investment Management LLC raised its stake in Teledyne Technologies by 44,457.2% during the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after buying an additional 73,799 shares during the period. Maren Capital LLC lifted its holdings in Teledyne Technologies by 37.2% during the first quarter. Maren Capital LLC now owns 254,245 shares of the scientific and technical instruments company’s stock worth $109,152,000 after acquiring an additional 68,940 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Teledyne Technologies by 88.4% in the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after acquiring an additional 59,942 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.