Teledyne Technologies (NYSE:TDY) Price Target Raised to $600.00 at Bank of America

Teledyne Technologies (NYSE:TDY - Get Free Report) had its price objective hoisted by investment analysts at Bank of America from $550.00 to $600.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the scientific and technical instruments company's stock. Bank of America's price objective suggests a potential upside of 19.35% from the stock's current price.

A number of other brokerages have also recently issued reports on TDY. Needham & Company LLC reissued a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $548.00.

Teledyne Technologies Price Performance

NYSE:TDY traded up $3.44 during trading hours on Monday, reaching $502.73. 653,569 shares of the company were exchanged, compared to its average volume of 243,148. The business has a 50 day moving average of $496.34 and a 200 day moving average of $471.23. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The company has a market capitalization of $23.55 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.14 and a beta of 1.03.

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Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts' consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the business earned $5.44 earnings per share. Teledyne Technologies's revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Teledyne Technologies will post 21.55 EPS for the current year.

Insider Buying and Selling at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares of the company's stock, valued at $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares of the company's stock, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last quarter. Corporate insiders own 2.14% of the company's stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors have recently made changes to their positions in TDY. Victory Capital Management Inc. boosted its holdings in Teledyne Technologies by 1.8% in the third quarter. Victory Capital Management Inc. now owns 31,436 shares of the scientific and technical instruments company's stock valued at $13,758,000 after acquiring an additional 563 shares during the last quarter. KBC Group NV lifted its position in shares of Teledyne Technologies by 0.7% in the 3rd quarter. KBC Group NV now owns 10,135 shares of the scientific and technical instruments company's stock worth $4,436,000 after purchasing an additional 67 shares during the period. Metis Global Partners LLC boosted its stake in shares of Teledyne Technologies by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company's stock valued at $663,000 after purchasing an additional 24 shares during the last quarter. ING Groep NV acquired a new stake in shares of Teledyne Technologies during the third quarter worth $1,064,000. Finally, OneDigital Investment Advisors LLC raised its stake in Teledyne Technologies by 2.4% during the third quarter. OneDigital Investment Advisors LLC now owns 1,766 shares of the scientific and technical instruments company's stock worth $773,000 after buying an additional 42 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.