Teledyne Technologies (NYSE:TDY) Reaches New 1-Year High - Time to Buy?

Shares of Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $523.69 and last traded at $521.45, with a volume of 3240 shares traded. The stock had previously closed at $519.86.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TDY. Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target for the company. Finally, TD Securities restated a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies has a consensus rating of "Buy" and an average price target of $554.43.

Teledyne Technologies Stock Up 0.8%

The business's 50 day simple moving average is $496.95 and its 200 day simple moving average is $488.15. The company has a quick ratio of 1.44, a current ratio of 2.19 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $24.92 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 2.44 and a beta of 1.04.

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

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock worth $13,166,000 after buying an additional 2,224 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Teledyne Technologies by 4.7% during the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock valued at $19,061,000 after purchasing an additional 1,712 shares during the last quarter. SG Americas Securities LLC acquired a new position in Teledyne Technologies during the first quarter valued at approximately $6,725,000. QRG Capital Management Inc. acquired a new position in Teledyne Technologies during the first quarter valued at approximately $275,000. Finally, GHP Investment Advisors Inc. grew its holdings in Teledyne Technologies by 3.1% during the first quarter. GHP Investment Advisors Inc. now owns 32,687 shares of the scientific and technical instruments company's stock valued at $16,268,000 after purchasing an additional 978 shares during the last quarter. 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.