Teledyne Technologies (NYSE:TDY) Upgraded at Bank of America

Teledyne Technologies (NYSE:TDY) was upgraded by research analysts at 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 prior price target of $450.00. Bank of America‘s price target would indicate a potential upside of 15.21% from the company’s current price.

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

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $477.38 on Friday. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 3.37 and a beta of 1.01. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $483.52. The company has a 50 day simple moving average of $443.66 and a two-hundred day simple moving average of $414.41. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.05 earnings per share. As a group, analysts predict that Teledyne Technologies will post 19.44 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Teledyne Technologies by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock worth $2,375,905,000 after acquiring an additional 16,189 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Teledyne Technologies by 3.2% during the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock worth $676,041,000 after purchasing an additional 48,397 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Teledyne Technologies by 17.8% during the 2nd 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 purchasing an additional 186,849 shares during the last quarter. Earnest Partners LLC lifted its stake in Teledyne Technologies by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after buying an additional 13,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Teledyne Technologies by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after buying an additional 32,339 shares during the last quarter. 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.