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

Teledyne Technologies Incorporated (NYSE:TDY) reached a new 52-week high during trading on Thursday . The stock traded as high as $519.38 and last traded at $519.03, with a volume of 217566 shares. The stock had previously closed at $508.75.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen boosted their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $531.00.

Teledyne Technologies Stock Performance

The company’s 50-day moving average is $476.25 and its two-hundred day moving average is $449.79. The company has a quick ratio of 1.35, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $24.19 billion, a P/E ratio of 30.12, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business earned $5.44 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Teledyne Technologies Incorporated will post 21.3 EPS for the current year.

Insider Transactions at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 2,699 shares of Teledyne Technologies stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $510.03, for a total transaction of $1,376,570.97. Following the completion of the sale, the executive vice president now directly owns 27,235 shares of the company’s stock, valued at approximately $13,890,667.05. The trade was a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $488.71, for a total value of $733,065.00. Following the transaction, the insider now owns 2,900 shares in the company, valued at $1,417,259. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,915 shares of company stock valued at $35,954,556. 2.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Sector Pension Investment Board grew its stake in shares of Teledyne Technologies by 80.1% in the second quarter. Public Sector Pension Investment Board now owns 1,810 shares of the scientific and technical instruments company’s stock worth $702,000 after purchasing an additional 805 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Teledyne Technologies by 605.2% in the 2nd quarter. Squarepoint Ops LLC now owns 9,027 shares of the scientific and technical instruments company’s stock worth $3,502,000 after buying an additional 7,747 shares during the period. AQR Capital Management LLC grew its position in shares of Teledyne Technologies by 1.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,275 shares of the scientific and technical instruments company’s stock worth $3,591,000 after buying an additional 141 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Teledyne Technologies by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 28,742 shares of the scientific and technical instruments company’s stock valued at $11,151,000 after acquiring an additional 307 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Teledyne Technologies by 14.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,906 shares of the scientific and technical instruments company’s stock worth $739,000 after acquiring an additional 234 shares during the period. Institutional investors 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.