Teledyne Technologies (NYSE:TDY) Price Target Raised to $725.00

Teledyne Technologies (NYSE:TDY) had its price target raised by Morgan Stanley from $715.00 to $725.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the scientific and technical instruments company’s stock.

Several other analysts also recently commented on TDY. Zacks Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Barclays raised their price target on Teledyne Technologies from $640.00 to $646.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. Stifel Nicolaus upped their price objective on Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Weiss Ratings upgraded Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Finally, Needham & Company LLC lifted their target price on Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $731.83.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $592.46 on Tuesday. The stock has a 50-day simple moving average of $618.75 and a two-hundred day simple moving average of $634.47. Teledyne Technologies has a 52-week low of $483.02 and a 52-week high of $697.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 2.31. The firm has a market capitalization of $27.28 billion, a PE ratio of 25.18, a P/E/G ratio of 2.33 and a beta of 0.89.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business posted $5.57 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that Teledyne Technologies will post 25.58 EPS for the current year.

Insider Buying and Selling

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director owned 55,783 shares of the company’s stock, valued at $37,951,406.22. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teledyne Technologies

Hedge funds have recently made changes to their positions in the company. CX Institutional grew its holdings in Teledyne Technologies by 2.8% during the second quarter. CX Institutional now owns 617 shares of the scientific and technical instruments company’s stock worth $411,000 after acquiring an additional 17 shares during the period. Lido Advisors LLC raised its position in Teledyne Technologies by 1.1% during the third quarter. Lido Advisors LLC now owns 1,502 shares of the scientific and technical instruments company’s stock valued at $912,000 after acquiring an additional 17 shares in the last quarter. Assetmark Inc. lifted its holdings in Teledyne Technologies by 10.5% in the first quarter. Assetmark Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 18 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Teledyne Technologies by 0.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 5,698 shares of the scientific and technical instruments company’s stock valued at $3,458,000 after acquiring an additional 19 shares during the period. Finally, Parvin Asset Management LLC boosted its position in Teledyne Technologies by 12.5% in the 1st quarter. Parvin Asset Management LLC now owns 180 shares of the scientific and technical instruments company’s stock worth $109,000 after purchasing an additional 20 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

About Teledyne Technologies

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.