Teledyne Technologies (NYSE:TDY) Hits New 52-Week High on Analyst Upgrade

Shares of Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $535.00 to $580.00. Morgan Stanley currently has an equal weight rating on the stock. Teledyne Technologies traded as high as $557.80 and last traded at $555.68, with a volume of 304346 shares traded. The stock had previously closed at $540.06.

Other equities research analysts have also issued research reports about the stock. TD Securities reissued a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus started coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Finally, Needham & Company LLC lowered their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $557.63.

Institutional Trading of Teledyne Technologies

Several hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC raised its holdings in Teledyne Technologies by 205.9% in the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after acquiring an additional 35 shares in the last quarter. Quarry LP purchased a new position in Teledyne Technologies in the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new position in Teledyne Technologies in the first quarter valued at approximately $28,000. Hurley Capital LLC purchased a new position in Teledyne Technologies in the fourth quarter valued at approximately $33,000. Finally, Ancora Advisors LLC increased its stake in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Trading Up 3.3%

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The firm has a market capitalization of $26.13 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.51 and a beta of 1.04. The business's 50-day moving average price is $501.46 and its 200-day moving average price is $489.84.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The business's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 EPS. As a group, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.

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