Teledyne Technologies (NYSE:TDY) Given New $550.00 Price Target at Needham & Company LLC

Teledyne Technologies (NYSE:TDY) had its price objective upped by Needham & Company LLC from $528.00 to $550.00 in a research report report published on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the scientific and technical instruments company’s stock.

TDY has been the topic of a number of other research reports. 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 target on the stock. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and a consensus price target of $517.50.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $476.56 on Monday. The company has a fifty day moving average price of $448.38 and a two-hundred day moving average price of $417.49. Teledyne Technologies has a one year low of $355.41 and a one year high of $492.00. The stock has a market cap of $22.21 billion, a P/E ratio of 24.09, a P/E/G ratio of 3.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.05 EPS. As a group, equities analysts predict that Teledyne Technologies will post 19.44 EPS for the current year.

Insider Activity

In other news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of Teledyne Technologies by 24.6% in the first quarter. Empowered Funds LLC now owns 588 shares of the scientific and technical instruments company’s stock worth $252,000 after purchasing an additional 116 shares during the period. Forsta AP Fonden raised its position in shares of Teledyne Technologies by 11.1% in the 1st quarter. Forsta AP Fonden now owns 9,000 shares of the scientific and technical instruments company’s stock valued at $3,864,000 after buying an additional 900 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Teledyne Technologies by 1.7% during the 1st quarter. US Bancorp DE now owns 7,696 shares of the scientific and technical instruments company’s stock worth $3,304,000 after acquiring an additional 130 shares during the period. ProShare Advisors LLC boosted its position in shares of Teledyne Technologies by 14.3% during the 1st quarter. ProShare Advisors LLC now owns 9,907 shares of the scientific and technical instruments company’s stock worth $4,253,000 after acquiring an additional 1,238 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Teledyne Technologies by 15.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,978 shares of the scientific and technical instruments company’s stock valued at $1,279,000 after acquiring an additional 401 shares during the last quarter. 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.