Analysts Set Teledyne Technologies Incorporated (NYSE:TDY) Price Target at $474.57

Teledyne Technologies Incorporated (NYSE:TDY) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $474.57.

TDY has been the subject of several research reports. Bank of America cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $490.00 to $400.00 in a report on Friday, April 26th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. TD Cowen reduced their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC raised their target price on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Vertical Research started coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company.

Hedge Funds Weigh In On Teledyne Technologies

Several large investors have recently added to or reduced their stakes in TDY. Raymond James Financial Services Advisors Inc. increased its stake in Teledyne Technologies by 14.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,006 shares of the scientific and technical instruments company’s stock worth $1,342,000 after buying an additional 386 shares in the last quarter. Global Retirement Partners LLC raised its stake in Teledyne Technologies by 47.0% during the 4th quarter. Global Retirement Partners LLC now owns 244 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 78 shares during the period. DAVENPORT & Co LLC bought a new position in Teledyne Technologies in the 4th quarter worth approximately $233,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Teledyne Technologies by 63.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 43 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Teledyne Technologies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 12,938 shares of the scientific and technical instruments company’s stock valued at $5,774,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 0.3 %

NYSE TDY traded down $1.14 during trading hours on Friday, reaching $409.04. 137,245 shares of the company’s stock traded hands, compared to its average volume of 253,153. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. The firm has a 50-day simple moving average of $396.47 and a 200 day simple moving average of $407.68. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The firm has a market cap of $19.38 billion, a PE ratio of 22.12, a PEG ratio of 2.86 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $4.67 earnings per share. Sell-side analysts anticipate that Teledyne Technologies will post 19.37 EPS for the current fiscal year.

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.