Teledyne Technologies (NYSE:TDY) Price Target Increased to $500.00 by Analysts at TD Cowen

Teledyne Technologies (NYSE:TDY) had its price objective hoisted by stock analysts at TD Cowen from $450.00 to $500.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price target would indicate a potential upside of 6.28% from the company’s previous close.

A number of other research firms have also weighed in on TDY. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Vertical Research initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $474.50.

Teledyne Technologies Stock Up 0.1 %

TDY stock traded up $0.36 during mid-day trading on Thursday, reaching $470.45. The company had a trading volume of 94,120 shares, compared to its average volume of 239,872. The firm has a fifty day simple moving average of $433.75 and a 200 day simple moving average of $409.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $473.55.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $4.67 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts forecast that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC increased its stake in Teledyne Technologies by 46.2% in the first quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company’s stock valued at $1,786,000 after purchasing an additional 1,315 shares during the last quarter. Clearbridge Investments LLC increased its stake in Teledyne Technologies by 11.2% in the first quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock valued at $114,644,000 after purchasing an additional 26,793 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Teledyne Technologies by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock worth $21,602,000 after acquiring an additional 1,665 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Teledyne Technologies by 49.8% during the first quarter. SG Americas Securities LLC now owns 13,349 shares of the scientific and technical instruments company’s stock worth $5,731,000 after acquiring an additional 4,440 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Teledyne Technologies by 38.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,781 shares of the scientific and technical instruments company’s stock worth $5,487,000 after acquiring an additional 3,532 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other 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.