Teledyne Technologies Incorporated (NYSE:TDY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $576.57.

A number of research firms recently commented on TDY. Stifel Nicolaus began coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target for the company. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. UBS Group boosted their price target on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday. Needham & Company LLC lowered their target price on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $6.07 during trading on Wednesday, reaching $556.00. The company's stock had a trading volume of 552,984 shares, compared to its average volume of 438,381. The business's 50-day moving average price is $510.59 and its 200-day moving average price is $494.66. The firm has a market cap of $26.05 billion, a PE ratio of 30.62, a P/E/G ratio of 2.62 and a beta of 1.04. Teledyne Technologies has a 52 week low of $397.78 and a 52 week high of $570.56. The company has a quick ratio of 1.44, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. Teledyne Technologies's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.58 earnings per share. Equities analysts forecast that Teledyne Technologies will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its board has approved a share repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its position in shares of Teledyne Technologies by 205.9% during the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after purchasing an additional 35 shares during the last quarter. Quarry LP bought a new position in shares of Teledyne Technologies during the 4th quarter worth $28,000. NBC Securities Inc. bought a new position in shares of Teledyne Technologies during the 1st quarter worth $28,000. Hurley Capital LLC bought a new position in shares of Teledyne Technologies during the 4th quarter worth $33,000. Finally, Ancora Advisors LLC grew its stake in shares of Teledyne Technologies by 192.3% during the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after acquiring an additional 50 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.