TD Cowen Boosts Teledyne Technologies (NYSE:TDY) Price Target to $500.00

Teledyne Technologies (NYSE:TDY) had its target price hoisted by TD Cowen from $450.00 to $500.00 in a report issued on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the scientific and technical instruments company’s stock.

TDY has been the topic of a number of other reports. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. Finally, Needham & Company LLC upped their price target on Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $474.50.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $469.19 on Thursday. The firm has a market capitalization of $22.23 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. The firm has a fifty day simple moving average of $435.99 and a two-hundred day simple moving average of $410.52. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $475.73.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. Teledyne Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.05 EPS. Analysts forecast that Teledyne Technologies will post 19.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after buying an additional 186,849 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock worth $48,593,000 after purchasing an additional 87,925 shares during the last quarter. International Assets Investment Management LLC boosted its position in Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after purchasing an additional 73,799 shares during the last quarter. Maren Capital LLC boosted its position in Teledyne Technologies by 37.2% in the first quarter. Maren Capital LLC now owns 254,245 shares of the scientific and technical instruments company’s stock worth $109,152,000 after purchasing an additional 68,940 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Teledyne Technologies by 88.4% during the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after buying an additional 59,942 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

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.