Teledyne Technologies (NYSE:TDY) Price Target Increased to $528.00 by Analysts at Needham & Company LLC

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

Several other analysts have also recently commented on the stock. Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. StockNews.com upgraded 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $474.50.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY traded up $2.77 on Thursday, reaching $472.86. 4,547 shares of the company’s stock were exchanged, compared to its average volume of 239,840. The business’s 50-day moving average is $434.94 and its two-hundred day moving average is $410.18. The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.11 and a beta of 1.01. 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 has a fifty-two week low of $355.41 and a fifty-two week high of $475.73.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $5.05 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Teledyne Technologies will post 19.43 EPS for the current year.

Institutional Trading of Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC lifted its stake in 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 valued at $1,786,000 after buying an additional 1,315 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Teledyne Technologies by 11.2% in the 1st quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock valued at $114,644,000 after purchasing an additional 26,793 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Teledyne Technologies by 3.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock worth $21,602,000 after acquiring an additional 1,665 shares during the period. SG Americas Securities LLC raised its holdings in Teledyne Technologies by 49.8% in the 1st 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 acquiring an additional 4,440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake 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 valued at $5,487,000 after purchasing an additional 3,532 shares in the last quarter. Institutional investors and hedge funds 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.