Teledyne Technologies (NYSE:TDY) Reaches New 52-Week High – Time to Buy?

Teledyne Technologies Incorporated (NYSE:TDY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $465.66 and last traded at $465.66, with a volume of 236 shares trading hands. The stock had previously closed at $443.49.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TDY. Vertical Research assumed coverage on shares of 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 upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC increased their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $450.50.

Teledyne Technologies Trading Up 4.0 %

The company has a market cap of $21.85 billion, a P/E ratio of 23.99, a PEG ratio of 3.16 and a beta of 1.01. The firm’s 50 day moving average is $432.52 and its two-hundred day moving average is $409.32. 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 EPS for the quarter, beating 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $4.67 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in Teledyne Technologies by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 5,664 shares of the scientific and technical instruments company’s stock worth $2,528,000 after purchasing an additional 99 shares during the period. NBC Securities Inc. grew its stake in Teledyne Technologies by 89.4% in the first quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 42 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Teledyne Technologies by 9.5% during the first quarter. Park Avenue Securities LLC now owns 2,182 shares of the scientific and technical instruments company’s stock valued at $937,000 after acquiring an additional 189 shares in the last quarter. Cardinal Capital Management lifted its holdings in shares of Teledyne Technologies by 13.0% in the 1st quarter. Cardinal Capital Management now owns 6,942 shares of the scientific and technical instruments company’s stock worth $2,980,000 after purchasing an additional 797 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Teledyne Technologies by 20.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,683 shares of the scientific and technical instruments company’s stock valued at $723,000 after purchasing an additional 280 shares during the period. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Company Profile

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.