Teledyne Technologies (NYSE:TDY) Upgraded at StockNews.com

StockNews.com upgraded shares of Teledyne Technologies (NYSE:TDY) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Several other analysts also recently issued reports on the company. Needham & Company LLC upped 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. Vertical Research assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a buy rating and a $470.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Teledyne Technologies currently has a consensus rating of Moderate Buy and an average price target of $466.40.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $440.68 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $424.13 and its 200 day moving average price is $407.54. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $448.19. The stock has a market cap of $20.61 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 3.11 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The business 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 business earned $4.67 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

Institutional Trading of Teledyne Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in shares of Teledyne Technologies by 35.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 132,361 shares of the scientific and technical instruments company’s stock worth $59,071,000 after acquiring an additional 34,371 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Teledyne Technologies by 46.2% in the 1st 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 grew its stake in shares of Teledyne Technologies by 11.2% during the 1st quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock valued at $114,644,000 after buying an additional 26,793 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Teledyne Technologies by 3.6% during the 1st 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 buying an additional 1,665 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of Teledyne Technologies by 19.3% in the 4th quarter. Rafferty Asset Management LLC now owns 14,738 shares of the scientific and technical instruments company’s stock worth $6,577,000 after buying an additional 2,386 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Company Profile

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.