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

Teledyne Technologies (NYSE:TDY) had its price target hoisted by Needham & Company LLC from $455.00 to $482.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Several other equities research analysts also recently weighed in on TDY. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a buy rating and a $470.00 price target on the stock. Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and lowered their price objective for the company from $490.00 to $400.00 in a research note on Friday, April 26th. Finally, TD Cowen cut their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Two investment 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 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 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. The firm has a market capitalization of $19.97 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $448.19. The stock’s 50-day simple moving average is $394.20 and its 200 day simple moving average is $408.95.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.67 EPS. On average, analysts anticipate that Teledyne Technologies will post 19.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC raised its position in shares of Teledyne Technologies by 77.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 533 shares of the scientific and technical instruments company’s stock worth $207,000 after acquiring an additional 233 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 1.6% during the 2nd quarter. ARK Investment Management LLC now owns 34,144 shares of the scientific and technical instruments company’s stock worth $13,247,000 after buying an additional 523 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its position in shares of Teledyne Technologies by 18.0% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 6,896 shares of the scientific and technical instruments company’s stock worth $2,676,000 after buying an additional 1,054 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Teledyne Technologies by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after acquiring an additional 9,732 shares during the period. Finally, Raymond James Trust N.A. bought a new position in Teledyne Technologies during the second quarter worth $204,000. 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.