Teledyne Technologies (NYSE:TDY) Raised to “Buy” at Bank of America

Teledyne Technologies (NYSE:TDY) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat reports. The brokerage currently has a $550.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $450.00. Bank of America‘s target price suggests a potential upside of 12.42% from the stock’s current price.

TDY has been the topic of several other research reports. Vertical Research started coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Cowen upped their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $512.00.

Teledyne Technologies Stock Up 2.4 %

Shares of TDY stock opened at $489.24 on Friday. The company’s fifty day simple moving average is $444.79 and its two-hundred day simple moving average is $415.06. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $492.00. The stock has a market cap of $22.80 billion, a P/E ratio of 24.73, a PEG ratio of 3.43 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $5.05 earnings per share. Analysts predict that Teledyne Technologies will post 19.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TDY. Intech Investment Management LLC grew its holdings in Teledyne Technologies by 70.4% during the 3rd quarter. Intech Investment Management LLC now owns 11,019 shares of the scientific and technical instruments company’s stock valued at $4,823,000 after purchasing an additional 4,552 shares during the last quarter. Grandfield & Dodd LLC boosted its position in shares of Teledyne Technologies by 2.5% during the third quarter. Grandfield & Dodd LLC now owns 35,191 shares of the scientific and technical instruments company’s stock valued at $15,402,000 after buying an additional 852 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Teledyne Technologies during the third quarter valued at approximately $279,000. PNC Financial Services Group Inc. raised its holdings in shares of Teledyne Technologies by 0.6% in the third quarter. PNC Financial Services Group Inc. now owns 107,515 shares of the scientific and technical instruments company’s stock worth $47,055,000 after buying an additional 611 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Teledyne Technologies during the 3rd quarter worth approximately $435,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.