Needham & Company LLC Boosts Teledyne Technologies (NYSE:TDY) Price Target to $528.00

Teledyne Technologies (NYSE:TDY) had its target price boosted by investment analysts at Needham & Company LLC from $482.00 to $528.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 12.35% from the company’s current price.

Several other research firms have also commented on TDY. Vertical Research started coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target on the stock. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Teledyne Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $462.00.

Teledyne Technologies Stock Up 6.0 %

NYSE TDY opened at $469.94 on Thursday. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $470.84. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $433.75 and its 200-day simple moving average is $409.74. The firm has a market cap of $21.98 billion, a PE ratio of 25.55, a P/E/G ratio of 3.11 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm earned $4.67 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current year.

Institutional Trading of Teledyne Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Forsta AP Fonden raised its holdings in Teledyne Technologies by 9.3% in the 3rd quarter. Forsta AP Fonden now owns 8,200 shares of the scientific and technical instruments company’s stock valued at $3,589,000 after buying an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Teledyne Technologies by 37.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,114 shares of the scientific and technical instruments company’s stock valued at $1,357,000 after acquiring an additional 850 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC acquired a new position in Teledyne Technologies in the 3rd quarter valued at about $205,000. International Assets Investment Management LLC grew its position in Teledyne Technologies by 44,457.2% in the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after acquiring an additional 73,799 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Teledyne Technologies by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 876 shares of the scientific and technical instruments company’s stock valued at $383,000 after acquiring an additional 38 shares in the last quarter. 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.