Teledyne Technologies (NYSE:TDY) Price Target Raised to $725.00

Key Points

• Morgan Stanley raised Teledyne Technologies’ price target to $725 from $715 while maintaining an “equal weight” rating, implying 8.87% potential upside.
• Analyst sentiment is generally positive: MarketBeat reports a “Moderate Buy” consensus and a $731.83 average price target, with Needham and Stifel also raising targets and assigning “buy” ratings.
• Teledyne exceeded quarterly expectations, reporting $6.72 in adjusted earnings per share and $1.68 billion in revenue; revenue increased 9.4% year over year.

Teledyne Technologies (NYSE:TDY - Get Free Report) had its price target upped by equities research analysts at Morgan Stanley from $715.00 to $725.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the scientific and technical instruments company's stock. Morgan Stanley's price target suggests a potential upside of 8.87% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC lifted their price objective on Teledyne Technologies from $760.00 to $775.00 and gave the company a "buy" rating in a report on Friday, October 23rd. Stifel Nicolaus increased their target price on Teledyne Technologies from $775.00 to $795.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Zacks Research downgraded Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays raised their price target on Teledyne Technologies from $640.00 to $646.00 and gave the company an "equal weight" rating in a report on Monday, October 26th. Finally, Weiss Ratings raised Teledyne Technologies from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Teledyne Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $731.83.

Teledyne Technologies Stock Performance

TDY traded up $6.03 on Tuesday, hitting $665.94. 72,351 shares of the company traded hands, compared to its average volume of 342,584. The company has a 50 day moving average of $618.73 and a 200-day moving average of $633.59. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $30.66 billion, a PE ratio of 30.44, a PEG ratio of 2.45 and a beta of 0.89. Teledyne Technologies has a 12-month low of $483.02 and a 12-month high of $697.67.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $5.57 EPS. The company's revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Teledyne Technologies will post 25.59 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director owned 55,783 shares in the company, valued at $37,951,406.22. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.36% of the company's stock.

Institutional Trading of Teledyne Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $27,000. Elevation Wealth Partners LLC raised its holdings in shares of Teledyne Technologies by 1,025.0% during the third quarter. Elevation Wealth Partners LLC now owns 45 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 41 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of Teledyne Technologies during the second quarter valued at approximately $28,000. Trust Co. of Vermont acquired a new position in shares of Teledyne Technologies during the second quarter worth approximately $28,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in shares of Teledyne Technologies during the third quarter worth approximately $28,000. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated NYSE: TDY is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company's businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.

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