Teledyne Technologies (NYSE:TDY) Upgraded to “Buy” by 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 Saturday.

A number of other research firms have also issued reports on TDY. Bank of America lowered shares of Teledyne Technologies from a buy rating to a neutral rating and reduced their target price for the company from $490.00 to $400.00 in a report on Friday, April 26th. TD Cowen decreased their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Vertical Research started coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They issued a buy rating and a $470.00 price target for the company. Finally, Needham & Company LLC raised their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the stock a buy rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Teledyne Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $474.57.

Teledyne Technologies Trading Up 1.6 %

NYSE:TDY opened at $406.05 on Friday. The company has a market capitalization of $19.24 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The stock has a fifty day simple moving average of $395.76 and a 200-day simple moving average of $407.69. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $4.67 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts expect that Teledyne Technologies will post 19.37 earnings per share for the current fiscal year.

Institutional Trading of Teledyne Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Tortoise Investment Management LLC increased its stake in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares during the last quarter. Norden Group LLC increased its position in Teledyne Technologies by 1.2% during the 4th quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock worth $959,000 after purchasing an additional 25 shares in the last quarter. Weik Capital Management lifted its position in Teledyne Technologies by 0.5% during the fourth quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock valued at $2,406,000 after buying an additional 25 shares in the last quarter. MJP Associates Inc. ADV grew its stake in Teledyne Technologies by 5.6% during the second quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock worth $234,000 after buying an additional 32 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Teledyne Technologies by 23.1% in the fourth quarter. Van ECK Associates Corp now owns 181 shares of the scientific and technical instruments company’s stock worth $81,000 after acquiring an additional 34 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.