Teledyne Technologies (NYSE:TDY) Rating Increased to Buy at Bank of America

Teledyne Technologies (NYSE:TDY - Get Free Report) was upgraded by Bank of America from a "neutral" rating to a "buy" rating in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has a $550.00 price target on the scientific and technical instruments company's stock, up from their previous price target of $450.00. Bank of America's price target indicates a potential upside of 12.42% from the company's current price.

Other equities analysts have also issued reports about the stock. TD Cowen raised their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Vertical Research started coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a "buy" rating and a $470.00 target price for the company. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC raised their price objective on Teledyne Technologies from $482.00 to $528.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies presently has an average rating of "Buy" and an average price target of $512.00.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $11.58 during midday trading on Friday, reaching $489.24. The company's stock had a trading volume of 343,318 shares, compared to its average volume of 240,687. The company has a market cap of $22.80 billion, a P/E ratio of 24.13, a P/E/G ratio of 3.37 and a beta of 1.01. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The business's 50 day moving average price is $443.66 and its two-hundred day moving average price is $414.41.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results 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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $5.05 EPS. The company's revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Teledyne Technologies will post 19.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Teledyne Technologies

Several large investors have recently modified their holdings of TDY. Tortoise Investment Management LLC lifted its holdings in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 24 shares during the period. Metis Global Partners LLC boosted its holdings in Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company's stock valued at $663,000 after acquiring an additional 24 shares during the last quarter. Crumly & Associates Inc. boosted its holdings in Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company's stock valued at $296,000 after acquiring an additional 25 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company's stock worth $298,000 after purchasing an additional 26 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of Teledyne Technologies by 3.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company's stock worth $279,000 after purchasing an additional 27 shares during the period. 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.