UBS Group Begins Coverage on Teledyne Technologies (NYSE:TDY)

Research analysts at UBS Group started coverage on shares of Teledyne Technologies (NYSE:TDY) in a report issued on Tuesday. The brokerage set a “buy” rating and a $585.00 price target on the scientific and technical instruments company’s stock. UBS Group’s target price points to a potential upside of 24.26% from the stock’s current price.

Other analysts have also issued reports about the company. TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC boosted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and an average price target of $531.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $0.03 during mid-day trading on Tuesday, reaching $470.77. 25,083 shares of the company were exchanged, compared to its average volume of 240,600. The company has a fifty day simple moving average of $465.07 and a 200-day simple moving average of $428.04. The firm has a market cap of $21.94 billion, a PE ratio of 23.71, a PEG ratio of 3.29 and a beta of 1.01. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $492.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.05 earnings per share. As a group, equities research analysts expect that Teledyne Technologies will post 19.45 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC raised its position in Teledyne Technologies by 240.5% in the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after purchasing an additional 25,796 shares during the period. Royal London Asset Management Ltd. grew its stake in Teledyne Technologies by 11.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock worth $7,953,000 after purchasing an additional 2,152 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Teledyne Technologies by 14.2% during the second quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock worth $14,922,000 after buying an additional 4,731 shares during the period. ING Groep NV acquired a new stake in Teledyne Technologies in the third quarter valued at $1,064,000. Finally, Congress Asset Management Co. boosted its position in shares of Teledyne Technologies by 0.7% during the 3rd quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock worth $120,255,000 after acquiring an additional 1,805 shares in the last quarter. 91.58% of the stock is currently 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.