Teledyne Technologies (NYSE:TDY) Price Target Raised to $550.00

Teledyne Technologies (NYSE:TDY - Get Free Report) had its target price raised by investment analysts at Needham & Company LLC from $528.00 to $550.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the scientific and technical instruments company's stock. Needham & Company LLC's target price would suggest a potential upside of 12.79% from the stock's previous close.

Several other research analysts also recently commented on the company. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Bank of America raised Teledyne Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $450.00 to $550.00 in a research report on Friday. TD Cowen lifted their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Vertical Research assumed coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a "buy" rating and a $470.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $517.50.

Teledyne Technologies Stock Down 0.3 %

Shares of TDY traded down $1.62 during midday trading on Monday, reaching $487.62. 254,838 shares of the stock were exchanged, compared to its average volume of 240,752. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $492.00. The firm has a 50 day simple moving average of $444.79 and a 200-day simple moving average of $415.43. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 3.43 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) 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 forecast that Teledyne Technologies will post 19.44 EPS for the current year.

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors have recently bought and sold shares of TDY. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company's stock worth $480,355,000 after acquiring an additional 186,849 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Teledyne Technologies by 235.6% during the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company's stock worth $48,593,000 after acquiring an additional 87,925 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Teledyne Technologies by 44,457.2% during the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company's stock worth $32,372,000 after acquiring an additional 73,799 shares during the last quarter. Maren Capital LLC raised its position in shares of Teledyne Technologies by 37.2% during the first quarter. Maren Capital LLC now owns 254,245 shares of the scientific and technical instruments company's stock worth $109,152,000 after acquiring an additional 68,940 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Teledyne Technologies by 88.4% in the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company's stock valued at $49,565,000 after purchasing an additional 59,942 shares during the last quarter. 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.