Teledyne Technologies (NYSE:TDY) Price Target Raised to $646.00

Teledyne Technologies (NYSE:TDY) had its price target increased by equities research analysts at Barclays from $640.00 to $646.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Barclays‘s target price would suggest a potential downside of 0.81% from the company’s previous close.

A number of other research firms also recently issued reports on TDY. Stifel Nicolaus raised their price target on Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC lifted their price objective on Teledyne Technologies from $760.00 to $775.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upped their price objective on Teledyne Technologies from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Citigroup increased their target price on Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Zacks Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $730.17.

Teledyne Technologies Stock Up 4.1%

Shares of NYSE TDY traded up $25.84 during trading on Monday, reaching $651.25. The company had a trading volume of 97,405 shares, compared to its average volume of 341,902. Teledyne Technologies has a 12-month low of $483.02 and a 12-month high of $697.67. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average is $616.98 and its 200 day moving average is $631.14. The stock has a market cap of $30.19 billion, a PE ratio of 29.82, a P/E/G ratio of 2.30 and a beta of 0.89.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.55. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $5.57 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that Teledyne Technologies will post 25.59 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of Teledyne Technologies stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total value of $4,387,512.66. Following the sale, the director owned 55,783 shares of the company’s stock, valued at $37,951,406.22. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Teledyne Technologies in the 2nd quarter worth $2,751,121,000. Jupiter Topco LLC bought a new position in shares of Teledyne Technologies during the second quarter valued at approximately $1,027,237,000. Bank of America Corp DE purchased a new position in shares of Teledyne Technologies in the 2nd quarter valued at $406,938,000. Findlay Park Partners LLP purchased a new position in Teledyne Technologies in the second quarter valued at about $277,363,000. Finally, Port Capital LLC purchased a new position in shares of Teledyne Technologies in the 2nd quarter worth approximately $162,900,000. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.