Teledyne Technologies (NYSE:TDY) Receives New Coverage from Analysts at Vertical Research

Vertical Research assumed coverage on shares of Teledyne Technologies (NYSE:TDY) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $470.00 price objective on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Needham & Company LLC lowered their price target on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Bank of America cut Teledyne Technologies from a buy rating to a neutral rating and lowered their target price for the company from $490.00 to $400.00 in a report on Friday, April 26th. Finally, TD Cowen lowered their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $474.57.

Teledyne Technologies Stock Performance

TDY opened at $421.56 on Tuesday. The stock has a market cap of $19.97 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.94 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.29. The stock’s 50 day simple moving average is $394.20 and its 200 day simple moving average is $409.16. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.67 EPS. As a group, equities analysts anticipate that Teledyne Technologies will post 19.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Teledyne Technologies

Several hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC boosted its holdings in shares of Teledyne Technologies by 77.7% during the second quarter. Eagle Bay Advisors LLC now owns 533 shares of the scientific and technical instruments company’s stock worth $207,000 after purchasing an additional 233 shares during the last quarter. ARK Investment Management LLC grew its position in Teledyne Technologies by 1.6% during the second quarter. ARK Investment Management LLC now owns 34,144 shares of the scientific and technical instruments company’s stock valued at $13,247,000 after acquiring an additional 523 shares during the period. Signature Estate & Investment Advisors LLC grew its position in Teledyne Technologies by 18.0% during the second quarter. Signature Estate & Investment Advisors LLC now owns 6,896 shares of the scientific and technical instruments company’s stock valued at $2,676,000 after acquiring an additional 1,054 shares during the period. Bank of New York Mellon Corp grew its position in Teledyne Technologies by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after acquiring an additional 9,732 shares during the period. Finally, Raymond James Trust N.A. purchased a new stake in Teledyne Technologies during the second quarter valued at about $204,000. Institutional investors and hedge funds 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.