Barclays Issues Positive Forecast for Teledyne Technologies (NYSE:TDY) Stock Price

Teledyne Technologies (NYSE:TDY) had its price target upped by research analysts at Barclays from $640.00 to $646.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Barclays‘s price target would indicate a potential downside of 0.81% from the stock’s current price.

A number of other equities research analysts have also recently commented on TDY. Weiss Ratings reiterated a “buy (b)” rating on shares of Teledyne Technologies in a research note on Wednesday, August 19th. Stifel Nicolaus increased their target price on Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC raised their price objective on shares of Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley boosted their target price on Teledyne Technologies from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Citigroup upped their target price on Teledyne Technologies from $677.00 to $680.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.17.

Teledyne Technologies Trading Up 4.1%

Teledyne Technologies stock traded up $25.84 during trading hours on Monday, reaching $651.25. 97,405 shares of the company’s stock were exchanged, compared to its average volume of 341,902. The firm has a market capitalization of $30.19 billion, a PE ratio of 29.82, a PEG ratio of 2.30 and a beta of 0.89. The firm’s 50 day simple moving average is $616.98 and its 200 day simple moving average is $631.14. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. Teledyne Technologies has a twelve month low of $483.02 and a twelve month high of $697.67.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.55. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.57 earnings per share. Research analysts predict that Teledyne Technologies will post 25.59 earnings per share for the current year.

Insider Activity

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director owned 55,783 shares of the company’s stock, valued at $37,951,406.22. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TDY. BlackRock Inc. purchased a new stake in Teledyne Technologies in the second quarter worth $2,751,121,000. Jupiter Topco LLC purchased a new position in Teledyne Technologies during the second quarter valued at $1,027,237,000. Bank of America Corp DE purchased a new position in Teledyne Technologies during the second quarter valued at $406,938,000. Findlay Park Partners LLP bought a new stake in shares of Teledyne Technologies during the 2nd quarter valued at $277,363,000. Finally, Maren Capital LLC boosted its holdings in shares of Teledyne Technologies by 4.1% during the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company’s stock valued at $251,373,000 after buying an additional 14,806 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.