Teledyne Technologies (NYSE:TDY) Sets New 1-Year High - What's Next?

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $465.66 and last traded at $465.66, with a volume of 236 shares changing hands. The stock had previously closed at $443.49.

Wall Street Analyst Weigh In

TDY has been the topic of several analyst reports. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $470.00 price objective on the stock. Needham & Company LLC increased their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $450.50.

Teledyne Technologies Stock Up 6.0 %

The company has a market cap of $22.27 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.16 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. The company has a fifty day moving average of $433.75 and a 200 day moving average of $409.74.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released 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 analysts' consensus estimates of $4.49 by $0.09. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.67 EPS. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the third quarter worth about $27,000. American National Bank bought a new stake in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in Teledyne Technologies during the 2nd quarter valued at $28,000. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC increased its stake in Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company's stock worth $34,000 after purchasing an additional 67 shares during the period. 91.58% of the stock is currently owned by institutional investors.

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.