Teledyne Technologies (NYSE:TDY) Price Target Raised to $300.00

Teledyne Technologies (NYSE:TDY) had its price target raised by Cowen from $275.00 to $300.00 in a research note released on Wednesday, The Fly reports. They currently have an outperform rating on the scientific and technical instruments company’s stock.

Other analysts also recently issued reports about the company. Needham & Company LLC boosted their target price on Teledyne Technologies from $275.00 to $328.00 and gave the company a buy rating in a report on Thursday, July 25th. ValuEngine downgraded Teledyne Technologies from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Berenberg Bank assumed coverage on Teledyne Technologies in a report on Tuesday, June 11th. They issued a buy rating and a $290.00 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Teledyne Technologies has an average rating of Buy and an average target price of $293.75.

Shares of NYSE TDY opened at $296.58 on Wednesday. The stock has a market cap of $10.67 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.63 and a quick ratio of 1.08. The business’s 50-day simple moving average is $280.77. Teledyne Technologies has a 1 year low of $189.35 and a 1 year high of $306.46.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.40. The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $781.55 million. Teledyne Technologies had a return on equity of 15.09% and a net margin of 12.04%. Teledyne Technologies’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 EPS. Equities analysts anticipate that Teledyne Technologies will post 9.95 earnings per share for the current year.

In other news, Director Simon M. Lorne sold 248 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $295.47, for a total value of $73,276.56. Following the completion of the sale, the director now directly owns 31,271 shares of the company’s stock, valued at approximately $9,239,642.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Crocker sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $291.00, for a total value of $582,000.00. Following the sale, the director now directly owns 46,496 shares of the company’s stock, valued at $13,530,336. The disclosure for this sale can be found here. Insiders sold a total of 22,610 shares of company stock valued at $5,952,172 over the last three months. Company insiders own 3.19% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Berman Capital Advisors LLC raised its stake in Teledyne Technologies by 85.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 139 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 64 shares during the last quarter. C M Bidwell & Associates Ltd. raised its stake in Teledyne Technologies by 217.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 168 shares of the scientific and technical instruments company’s stock valued at $46,000 after acquiring an additional 115 shares during the last quarter. Advisory Services Network LLC raised its stake in Teledyne Technologies by 112.5% during the 2nd quarter. Advisory Services Network LLC now owns 187 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 99 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Teledyne Technologies during the 2nd quarter valued at approximately $54,000. Finally, Kavar Capital Partners LLC purchased a new stake in Teledyne Technologies during the 2nd quarter valued at approximately $66,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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