Teledyne Technologies (NYSE:TDY) Hits New 52-Week High – Time to Buy?

Teledyne Technologies Incorporated (NYSE:TDY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $480.08 and last traded at $478.40, with a volume of 61607 shares changing hands. The stock had previously closed at $459.37.

Analyst Ratings Changes

Several analysts have recently commented on the company. Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price for the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a research note on Friday. Needham & Company LLC increased their price target on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $512.00.

Teledyne Technologies Trading Up 2.4 %

The company has a market cap of $22.80 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. The company’s 50 day moving average price is $444.79 and its 200 day moving average price is $415.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data 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 return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business earned $5.05 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Research analysts anticipate that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TDY. Grandfield & Dodd LLC grew its stake in shares of Teledyne Technologies by 2.5% in the third quarter. Grandfield & Dodd LLC now owns 35,191 shares of the scientific and technical instruments company’s stock worth $15,402,000 after acquiring an additional 852 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Teledyne Technologies in the 3rd quarter worth $279,000. PNC Financial Services Group Inc. increased its holdings in shares of Teledyne Technologies by 0.6% during the 3rd 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 purchasing an additional 611 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Teledyne Technologies during the third quarter valued at about $435,000. Finally, Pathstone Holdings LLC lifted its stake in shares of Teledyne Technologies by 2.0% in the third quarter. Pathstone Holdings LLC now owns 3,918 shares of the scientific and technical instruments company’s stock valued at $1,715,000 after buying an additional 77 shares during the period. 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.