Brokerages Set Teledyne Technologies Incorporated (NYSE:TDY) Target Price at $471.17

Teledyne Technologies Incorporated (NYSE:TDY) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $471.17.

Several brokerages have commented on TDY. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Needham & Company LLC raised their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $432.80 on Wednesday. The stock has a market cap of $20.51 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 3.04 and a beta of 1.00. The firm’s fifty day simple moving average is $405.17 and its 200 day simple moving average is $406.23. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $448.19. 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 released 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 business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.67 earnings per share. As a group, research analysts predict that Teledyne Technologies will post 19.4 EPS for the current year.

Hedge Funds Weigh In On Teledyne Technologies

Large investors have recently modified their holdings of the stock. ING Groep NV raised its position in Teledyne Technologies by 60.1% in the 4th quarter. ING Groep NV now owns 9,460 shares of the scientific and technical instruments company’s stock worth $4,222,000 after buying an additional 3,550 shares during the last quarter. Hsbc Holdings PLC raised its position in Teledyne Technologies by 28.4% in the 4th quarter. Hsbc Holdings PLC now owns 91,664 shares of the scientific and technical instruments company’s stock worth $40,905,000 after buying an additional 20,263 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Teledyne Technologies by 35.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 132,361 shares of the scientific and technical instruments company’s stock worth $59,071,000 after buying an additional 34,371 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in 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 worth $1,786,000 after buying an additional 1,315 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Teledyne Technologies by 69.5% in the 4th quarter. BNP Paribas Financial Markets now owns 21,931 shares of the scientific and technical instruments company’s stock worth $9,788,000 after buying an additional 8,992 shares during the last quarter. Hedge funds and other institutional investors 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.