Teledyne Technologies (NYSE:TDY) Earns Buy Rating from Analysts at Vertical Research

Vertical Research started coverage on shares of Teledyne Technologies (NYSE:TDY) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $470.00 price target on the scientific and technical instruments company’s stock.

TDY has been the topic of a number of other research reports. Bank of America lowered shares of Teledyne Technologies from a buy rating to a neutral rating and cut their price target for the company from $490.00 to $400.00 in a research note on Friday, April 26th. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a report on Thursday, April 25th. TD Cowen lowered their target price 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, StockNews.com upgraded shares of Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies presently has an average rating of Moderate Buy and a consensus target price of $474.57.

Teledyne Technologies Trading Down 0.3 %

Shares of Teledyne Technologies stock opened at $415.70 on Tuesday. The stock has a market capitalization of $19.70 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.94 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $393.89 and a 200 day simple moving average of $409.29. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping 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 company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $4.67 EPS. Teledyne Technologies’s revenue was down 3.8% on a year-over-year basis. Research analysts expect that Teledyne Technologies will post 19.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Teledyne Technologies in the fourth quarter valued at about $243,111,000. Maren Capital LLC acquired a new stake in Teledyne Technologies in the fourth quarter valued at about $82,700,000. Public Sector Pension Investment Board boosted its stake in 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 buying an additional 88,294 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in 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 buying an additional 87,925 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Teledyne Technologies by 1.4% in 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 buying an additional 77,890 shares in the last quarter. Institutional investors and hedge funds 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.