Teledyne Technologies (NYSE:TDY) Given New $520.00 Price Target at Jefferies Financial Group

Teledyne Technologies (NYSE:TDY) had its price target lifted by equities research analysts at Jefferies Financial Group from $480.00 to $520.00 in a research report issued on Monday, Price Targets.com reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 20.28% from the stock’s previous close.

Separately, Needham & Company LLC raised their price target on shares of Teledyne Technologies from $416.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $418.00.

NYSE:TDY opened at $432.31 on Monday. Teledyne Technologies has a 52 week low of $289.19 and a 52 week high of $457.79. The firm has a 50 day moving average of $419.12 and a 200 day moving average of $385.89. The company has a quick ratio of 1.74, a current ratio of 2.29 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 42.42 and a beta of 1.08.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 28th. The scientific and technical instruments company reported $3.02 EPS for the quarter, beating the Zacks’ consensus estimate of $2.59 by $0.43. The company had revenue of $805.70 million during the quarter, compared to analysts’ expectations of $785.54 million. Teledyne Technologies had a net margin of 12.39% and a return on equity of 13.42%. Teledyne Technologies’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.17 earnings per share. As a group, analysts expect that Teledyne Technologies will post 10.36 EPS for the current year.

In other Teledyne Technologies news, Chairman Robert Mehrabian acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 4th. The shares were purchased at an average price of $361.54 per share, for a total transaction of $3,615,400.00. Also, EVP Jason Vanwees acquired 3,000 shares of the business’s stock in a transaction dated Thursday, March 4th. The stock was acquired at an average price of $357.48 per share, for a total transaction of $1,072,440.00. Following the purchase, the executive vice president now directly owns 37,465 shares of the company’s stock, valued at $13,392,988.20. The disclosure for this purchase can be found here. Insiders bought 13,261 shares of company stock worth $4,793,563 in the last quarter. Company insiders own 3.15% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TDY. Price T Rowe Associates Inc. MD grew its position in Teledyne Technologies by 9.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,197,466 shares of the scientific and technical instruments company’s stock valued at $2,037,303,000 after buying an additional 454,232 shares during the period. Norges Bank acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $139,651,000. Amundi Pioneer Asset Management Inc. raised its stake in Teledyne Technologies by 234.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 316,190 shares of the scientific and technical instruments company’s stock worth $123,940,000 after purchasing an additional 221,668 shares during the period. Thornburg Investment Management Inc. purchased a new position in Teledyne Technologies during the fourth quarter worth about $36,732,000. Finally, Artisan Partners Limited Partnership raised its stake in Teledyne Technologies by 7.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,227,673 shares of the scientific and technical instruments company’s stock worth $481,223,000 after purchasing an additional 82,122 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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, Canada, Denmark, France, the Netherlands, and internationally. 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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