Teledyne Technologies (NYSE:TDY) Upgraded to “Buy” at Bank of America

Bank of America upgraded shares of Teledyne Technologies (NYSE:TDY) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat.com reports. They currently have $550.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $450.00.

Several other analysts have also issued reports on the stock. Vertical Research started coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price for the company. Needham & Company LLC increased their price target on shares of Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Stock Down 0.3 %

Shares of NYSE TDY opened at $487.62 on Friday. The company has a market capitalization of $22.72 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 3.43 and a beta of 1.01. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The company’s 50 day moving average price is $444.79 and its 200-day moving average price is $415.43.

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 net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company earned $5.05 EPS. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts forecast that Teledyne Technologies will post 19.44 earnings per share for the current year.

Institutional Trading of Teledyne Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $27,000. American National Bank purchased a new position in Teledyne Technologies during the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in Teledyne Technologies during the second quarter valued at $28,000. Tortoise Investment Management LLC raised its stake in shares of Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC raised its stake in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 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.