Teledyne Technologies (NYSE:TDY) Price Target Raised to $646.00

Teledyne Technologies (NYSE:TDY) had its price objective hoisted by Barclays from $640.00 to $646.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also issued reports on TDY. Stifel Nicolaus increased their price objective on shares of Teledyne Technologies from $775.00 to $795.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Teledyne Technologies in a research report on Wednesday, August 19th. Morgan Stanley raised their target price on shares of Teledyne Technologies from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Citigroup raised their target price on shares of Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Finally, Needham & Company LLC lifted their price target on shares of Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $730.17.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $664.78 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. Teledyne Technologies has a 52 week low of $483.02 and a 52 week high of $697.67. The stock’s 50-day simple moving average is $617.22 and its 200-day simple moving average is $631.89. The company has a market capitalization of $30.82 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 2.30 and a beta of 0.89.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $5.57 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that Teledyne Technologies will post 25.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director owned 55,783 shares in the company, valued at $37,951,406.22. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.36% of the company’s stock.

Institutional Trading of Teledyne Technologies

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Teledyne Technologies in the 2nd quarter worth $2,751,121,000. Jupiter Topco LLC bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth about $1,027,237,000. Bank of America Corp DE bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth about $406,938,000. Findlay Park Partners LLP bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth about $277,363,000. Finally, Maren Capital LLC raised its position in shares of Teledyne Technologies by 4.1% during the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company’s stock valued at $251,373,000 after buying an additional 14,806 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.