Teledyne Technologies Incorporated (NYSE:TDY) Given Average Recommendation of “Buy” by Analysts

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been assigned a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $542.50.

A number of research firms have recently commented on TDY. Bank of America upped their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. TD Securities reaffirmed a “buy” rating and set a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Needham & Company LLC lowered their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 24th.

Teledyne Technologies Stock Performance

Shares of TDY opened at $494.00 on Tuesday. Teledyne Technologies has a 1 year low of $380.63 and a 1 year high of $522.50. The company’s 50 day simple moving average is $476.26 and its 200 day simple moving average is $482.89. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.55 EPS. On average, sell-side analysts predict that Teledyne Technologies will post 21.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TDY. LPL Financial LLC lifted its holdings in shares of Teledyne Technologies by 8.5% during the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock valued at $13,166,000 after acquiring an additional 2,224 shares in the last quarter. Amundi lifted its stake in shares of Teledyne Technologies by 11.9% during the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after purchasing an additional 13,244 shares in the last quarter. ING Groep NV boosted its position in shares of Teledyne Technologies by 144.9% in the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock worth $2,763,000 after buying an additional 3,522 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Teledyne Technologies by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after buying an additional 640 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 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.