Teledyne Technologies (NYSE:TDY) Hits New 1-Year High – What’s Next?

Teledyne Technologies Incorporated (NYSE:TDY)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $480.08 and last traded at $478.40, with a volume of 61607 shares trading hands. The stock had previously closed at $459.37.

Analysts Set New Price Targets

TDY has been the subject of a number of analyst reports. 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. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $450.00 to $550.00 in a research note on Friday. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $512.00.

Teledyne Technologies Stock Up 2.4 %

The stock has a market cap of $22.80 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $444.79 and its 200-day moving average is $415.00.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $5.05 earnings per share. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current fiscal year.

Institutional Trading of Teledyne Technologies

Several institutional investors have recently modified their holdings of TDY. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $27,000. American National Bank purchased a new position in Teledyne Technologies in the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new stake in Teledyne Technologies during the 2nd quarter worth about $28,000. Tortoise Investment Management LLC lifted 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 valued at $29,000 after buying an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC boosted its holdings in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds 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.