Teledyne Technologies (NYSE:TDY) Upgraded at StockNews.com

Teledyne Technologies (NYSE:TDY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research analysts have also recently issued reports on the company. Vertical Research assumed coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Needham & Company LLC lifted their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $466.40.

Teledyne Technologies Stock Up 1.0 %

NYSE TDY traded up $4.25 during trading on Wednesday, hitting $443.73. The stock had a trading volume of 220,538 shares, compared to its average volume of 240,818. The company has a market capitalization of $20.76 billion, a PE ratio of 24.00, a P/E/G ratio of 3.05 and a beta of 1.02. The company’s 50-day moving average price is $422.74 and its two-hundred day moving average price is $406.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. 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 data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted $4.67 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Teledyne Technologies will post 19.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TDY. Bank of Nova Scotia lifted its position in shares of Teledyne Technologies by 25.8% during the fourth quarter. Bank of Nova Scotia now owns 6,835 shares of the scientific and technical instruments company’s stock worth $3,050,000 after purchasing an additional 1,401 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Teledyne Technologies by 2.7% during the fourth quarter. California State Teachers Retirement System now owns 74,648 shares of the scientific and technical instruments company’s stock valued at $33,315,000 after buying an additional 1,957 shares during the period. KBC Group NV increased its stake in shares of Teledyne Technologies by 7.8% during the fourth quarter. KBC Group NV now owns 10,068 shares of the scientific and technical instruments company’s stock valued at $4,493,000 after buying an additional 729 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Teledyne Technologies by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 33,365 shares of the scientific and technical instruments company’s stock valued at $14,890,000 after buying an additional 694 shares during the period. Finally, NEOS Investment Management LLC purchased a new position in shares of Teledyne Technologies during the fourth quarter valued at $297,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

About Teledyne Technologies

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.