Teledyne Technologies (NYSE:TDY) Price Target Raised to $415.00

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Teledyne Technologies (NYSE:TDY) had its price objective boosted by Cowen from $375.00 to $415.00 in a research note released on Tuesday morning, The Fly reports. Cowen currently has an outperform rating on the scientific and technical instruments company’s stock.

TDY has been the topic of several other reports. ValuEngine upgraded shares of Teledyne Technologies from a sell rating to a hold rating in a research report on Tuesday, January 28th. Needham & Company LLC increased their price target on shares of Teledyne Technologies from $355.00 to $400.00 and gave the stock a buy rating in a research report on Tuesday, January 21st. Finally, Zacks Investment Research raised shares of Teledyne Technologies from a hold rating to a buy rating and set a $393.00 price objective for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $374.50.

TDY opened at $389.48 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.21 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 1-year low of $224.84 and a 1-year high of $398.99. The company has a market capitalization of $14.12 billion, a PE ratio of 36.33 and a beta of 1.03. The firm’s 50 day simple moving average is $369.60 and its two-hundred day simple moving average is $334.89.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $3.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.30. Teledyne Technologies had a net margin of 12.72% and a return on equity of 15.67%. The business had revenue of $834.20 million for the quarter, compared to the consensus estimate of $826.78 million. During the same period last year, the firm earned $2.45 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts forecast that Teledyne Technologies will post 11.3 earnings per share for the current fiscal year.

In other news, VP Stephen Finis Blackwood sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $349.29, for a total value of $873,225.00. Following the completion of the sale, the vice president now directly owns 11,754 shares of the company’s stock, valued at $4,105,554.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.19% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Teledyne Technologies by 0.4% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,433 shares of the scientific and technical instruments company’s stock valued at $2,229,000 after acquiring an additional 28 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Teledyne Technologies by 0.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,645 shares of the scientific and technical instruments company’s stock valued at $1,610,000 after acquiring an additional 32 shares in the last quarter. Parallel Advisors LLC grew its stake in Teledyne Technologies by 62.7% during the fourth quarter. Parallel Advisors LLC now owns 96 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 37 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Teledyne Technologies by 0.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 10,373 shares of the scientific and technical instruments company’s stock valued at $3,340,000 after acquiring an additional 38 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in Teledyne Technologies by 9.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 448 shares of the scientific and technical instruments company’s stock valued at $155,000 after acquiring an additional 38 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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