Teledyne Technologies (NYSE:TDY) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Teledyne Technologies (NYSE:TDY) from a hold rating to a buy rating in a research report report published on Wednesday.

TDY has been the topic of several other research reports. Needham & Company LLC lifted their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a buy rating in a research note on Thursday, July 25th. Vertical Research started coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a buy rating and a $470.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $450.50.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $440.70 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The firm’s fifty day moving average is $424.13 and its two-hundred day moving average is $407.44. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a market cap of $20.62 billion, a P/E ratio of 23.83, a P/E/G ratio of 3.11 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $4.67 earnings per share. Teledyne Technologies’s revenue was down 3.8% on a year-over-year basis. As a group, analysts anticipate that Teledyne Technologies will post 19.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Czech National Bank raised its position in shares of Teledyne Technologies by 5.5% in the 3rd quarter. Czech National Bank now owns 9,530 shares of the scientific and technical instruments company’s stock valued at $4,171,000 after purchasing an additional 494 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Teledyne Technologies by 12.8% in the second quarter. Centaurus Financial Inc. now owns 379 shares of the scientific and technical instruments company’s stock worth $147,000 after buying an additional 43 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Teledyne Technologies during the second quarter worth $4,947,000. Clearbridge Investments LLC grew its holdings in shares of Teledyne Technologies by 7.3% during the second quarter. Clearbridge Investments LLC now owns 286,572 shares of the scientific and technical instruments company’s stock valued at $111,184,000 after buying an additional 19,536 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Teledyne Technologies by 147.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,980 shares of the scientific and technical instruments company’s stock valued at $1,544,000 after acquiring an additional 2,371 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.