Teledyne Technologies (NYSE:TDY) Now Covered by Analysts at UBS Group

UBS Group started coverage on shares of Teledyne Technologies (NYSE:TDY) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $585.00 target price on the scientific and technical instruments company’s stock.

A number of other research firms have also weighed in on TDY. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen lifted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Six equities research 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 $531.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $470.77 on Tuesday. The company’s 50 day moving average is $465.70 and its two-hundred day moving average is $428.52. The firm has a market cap of $21.94 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating 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 business posted $5.05 earnings per share. Teledyne Technologies’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts expect that Teledyne Technologies will post 19.45 EPS for the current fiscal year.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the transaction, the chairman now owns 171,802 shares in the company, valued at $84,268,881. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDY. CWM LLC boosted its stake in Teledyne Technologies by 8.7% during the 2nd quarter. CWM LLC now owns 674 shares of the scientific and technical instruments company’s stock worth $261,000 after purchasing an additional 54 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Teledyne Technologies by 6.2% during the second quarter. Sequoia Financial Advisors LLC now owns 838 shares of the scientific and technical instruments company’s stock worth $325,000 after buying an additional 49 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Teledyne Technologies by 14.7% during the second quarter. V Square Quantitative Management LLC now owns 555 shares of the scientific and technical instruments company’s stock worth $215,000 after buying an additional 71 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Teledyne Technologies by 2.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,158 shares of the scientific and technical instruments company’s stock valued at $5,105,000 after acquiring an additional 377 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Teledyne Technologies by 235.6% during the 2nd 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 acquiring an additional 87,925 shares during the last quarter. Hedge funds and other institutional investors 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.