Teledyne Technologies (NYSE:TDY) Upgraded at StockNews.com

Teledyne Technologies (NYSE:TDY) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other brokerages have also commented on TDY. Vertical Research assumed 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. Needham & Company LLC increased their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $466.40.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $4.25 on Wednesday, reaching $443.73. 220,538 shares of the stock were exchanged, compared to its average volume of 240,818. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $448.19. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 3.05 and a beta of 1.02. The business has a 50 day moving average price of $422.74 and a two-hundred day moving average price of $406.88. 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 announced its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company posted $4.67 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TDY. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after buying an additional 186,849 shares during the period. Public Sector Pension Investment Board grew its position in shares of Teledyne Technologies by 1,755.0% in the fourth quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock valued at $41,650,000 after purchasing an additional 88,294 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after purchasing an additional 87,925 shares during the period. Vanguard Group Inc. grew its position in Teledyne Technologies by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after acquiring an additional 77,890 shares during the period. Finally, Maren Capital LLC grew its position in Teledyne Technologies by 37.2% during the first quarter. Maren Capital LLC now owns 254,245 shares of the scientific and technical instruments company’s stock valued at $109,152,000 after acquiring an additional 68,940 shares during the period. Hedge funds and other 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.