TD Cowen Boosts Teledyne Technologies (NYSE:TDY) Price Target to $500.00

Teledyne Technologies (NYSE:TDY) had its price objective upped by TD Cowen from $450.00 to $500.00 in a research note issued to investors on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the scientific and technical instruments company’s stock.

TDY has been the subject of several other reports. Vertical Research initiated coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price for the company. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $474.50.

Teledyne Technologies Stock Down 0.6 %

Shares of TDY stock traded down $2.80 on Thursday, hitting $470.06. The stock had a trading volume of 48,003 shares, compared to its average volume of 240,057. The stock’s 50 day moving average is $434.94 and its 200-day moving average is $410.18. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 3.11 and a beta of 1.01. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $475.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.05 earnings per share. As a group, research analysts expect that Teledyne Technologies will post 19.43 earnings per share for the current year.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Orion Portfolio Solutions LLC boosted its position 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 period. Clearbridge Investments LLC grew its stake in 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 acquiring an additional 26,793 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Teledyne Technologies by 3.6% in 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 boosted its position in 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 valued at $5,731,000 after purchasing an additional 4,440 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Teledyne Technologies by 38.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,781 shares of the scientific and technical instruments company’s stock valued at $5,487,000 after purchasing an additional 3,532 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.