Teledyne Technologies (NYSE:TDY) Upgraded at Bank of America

Bank of America upgraded shares of Teledyne Technologies (NYSE:TDY) from a neutral rating to a buy rating in a research note published on Friday, Marketbeat Ratings reports. The brokerage currently has $550.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $450.00.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Vertical Research assumed coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. TD Cowen lifted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC lifted their price target on shares of Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Stock Down 0.3 %

Shares of NYSE TDY opened at $487.62 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $22.72 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. The stock’s fifty day simple moving average is $444.79 and its two-hundred day simple moving average is $415.43. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $492.00.

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, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $5.05 EPS. As a group, analysts expect that Teledyne Technologies will post 19.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies during the third quarter worth about $27,000. American National Bank acquired a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $28,000. Innealta Capital LLC acquired a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its position in shares of Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC boosted its position in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 67 shares during the last quarter. 91.58% of the stock is 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.