Teledyne Technologies (NYSE:TDY) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Teledyne Technologies (NYSE:TDY) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other analysts also recently commented on the stock. Bank of America downgraded shares of Teledyne Technologies from a buy rating to a neutral rating and decreased their price objective for the stock from $490.00 to $400.00 in a report on Friday, April 26th. Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a buy rating in a report on Thursday, July 25th. TD Cowen decreased their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a report on Thursday, April 25th. Finally, Vertical Research started coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a buy rating and a $470.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $474.57.

Teledyne Technologies Trading Down 2.6 %

TDY stock opened at $399.73 on Friday. The firm has a market cap of $18.94 billion, a P/E ratio of 21.62, a PEG ratio of 2.89 and a beta of 1.00. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company’s 50-day simple moving average is $395.60 and its 200-day simple moving average is $408.13. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $4.67 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts forecast that Teledyne Technologies will post 19.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently modified their holdings of TDY. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Teledyne Technologies by 14.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,006 shares of the scientific and technical instruments company’s stock valued at $1,342,000 after buying an additional 386 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Teledyne Technologies by 47.0% during the fourth quarter. Global Retirement Partners LLC now owns 244 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 78 shares during the period. DAVENPORT & Co LLC purchased a new position in shares of Teledyne Technologies during the fourth quarter valued at approximately $233,000. Arizona State Retirement System increased its position in Teledyne Technologies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 12,938 shares of the scientific and technical instruments company’s stock worth $5,774,000 after purchasing an additional 104 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Teledyne Technologies by 37,167.5% during the fourth quarter. International Assets Investment Management LLC now owns 72,299 shares of the scientific and technical instruments company’s stock worth $32,266,000 after purchasing an additional 72,105 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.