Teledyne Technologies Incorporated (NYSE:TDY) Receives $542.50 Average Price Target from Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $542.50.

Several research firms have weighed in on TDY. Wall Street Zen upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. TD Securities reaffirmed a “buy” rating and issued a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Bank of America boosted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $500.52 on Tuesday. The business has a 50-day simple moving average of $476.24 and a 200 day simple moving average of $483.59. Teledyne Technologies has a one year low of $380.63 and a one year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The firm has a market capitalization of $23.45 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 3.14 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TDY. Golden State Wealth Management LLC increased its stake in Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 35 shares during the last quarter. Quarry LP bought a new position in shares of Teledyne Technologies in the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $28,000. Hurley Capital LLC bought a new stake in Teledyne Technologies during the fourth quarter worth $33,000. Finally, Ancora Advisors LLC lifted its holdings in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 50 shares during the period. 91.58% of the stock is currently owned by hedge funds and other 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.