Needham & Company LLC Boosts Teledyne Technologies (NYSE:TDY) Price Target to $550.00

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

A number of other equities research analysts also recently issued reports on the stock. TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $450.00 to $550.00 in a research note 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, Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Stock Down 0.3 %

TDY opened at $486.57 on Monday. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $492.00. The company has a market cap of $22.67 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 3.39 and a beta of 1.01. 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 company has a 50 day moving average of $448.38 and a 200 day moving average of $417.49.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $5.05 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts expect that Teledyne Technologies will post 19.44 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.14% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of large investors have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $27,000. American National Bank bought a new position in Teledyne Technologies during the second quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies during the third quarter worth approximately $32,000. Innealta Capital LLC bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth approximately $28,000. Finally, Tortoise Investment Management LLC boosted its position in Teledyne Technologies by 48.0% during 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 buying an additional 24 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.