Teledyne Technologies (NYSE:TDY) Reaches New 12-Month High - Here's Why

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $449.97 and last traded at $448.85, with a volume of 14405 shares traded. The stock had previously closed at $446.60.

Analysts Set New Price Targets

Several brokerages have weighed in on TDY. StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Vertical Research began coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a "buy" rating and a $470.00 target price for the company. Finally, Needham & Company LLC upped their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and a consensus target price of $450.50.

Teledyne Technologies Stock Performance

The company has a market cap of $21.52 billion, a PE ratio of 24.56, a P/E/G ratio of 3.12 and a beta of 1.01. The stock's 50-day simple moving average is $425.81 and its 200 day simple moving average is $408.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm earned $4.67 EPS. The business's revenue was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.43 EPS for the current year.

Hedge Funds Weigh In On Teledyne Technologies

A number of large investors have recently bought and sold shares of the stock. American National Bank purchased a new position in shares of Teledyne Technologies in the 2nd quarter worth $28,000. Innealta Capital LLC purchased a new stake in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Kapitalo Investimentos Ltda acquired a new stake in Teledyne Technologies during the 4th quarter worth approximately $29,000. Tortoise Investment Management LLC raised its holdings in Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 24 shares during the period. Finally, Crewe Advisors LLC lifted its position in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 67 shares in the last quarter. 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.