Stifel Nicolaus Begins Coverage on Teledyne Technologies (NYSE:TDY)

Research analysts at Stifel Nicolaus initiated coverage on shares of Teledyne Technologies (NYSE:TDY - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a "buy" rating and a $626.00 price target on the scientific and technical instruments company's stock. Stifel Nicolaus' price target would suggest a potential upside of 23.56% from the stock's previous close.

A number of other equities analysts have also recently weighed in on TDY. Needham & Company LLC dropped their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Bank of America lifted their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, TD Securities reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $554.43.

Teledyne Technologies Price Performance

NYSE:TDY traded down $0.03 during midday trading on Tuesday, hitting $506.65. 140,408 shares of the stock were exchanged, compared to its average volume of 269,661. The business has a 50-day moving average price of $485.02 and a two-hundred day moving average price of $484.80. The company has a current ratio of 2.19, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 2.34 and a beta of 1.04. Teledyne Technologies has a one year low of $381.03 and a one year high of $522.50.

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 earnings per share for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $4.55 earnings per share. Sell-side analysts predict that Teledyne Technologies will post 21.55 EPS for the current year.

Institutional Trading of Teledyne Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs acquired a new position in Teledyne Technologies in the 1st quarter worth about $1,120,000. Voya Investment Management LLC increased its holdings in Teledyne Technologies by 19.3% in the first quarter. Voya Investment Management LLC now owns 37,079 shares of the scientific and technical instruments company's stock worth $18,455,000 after buying an additional 5,994 shares during the last quarter. eCIO Inc. acquired a new position in Teledyne Technologies in the first quarter worth approximately $80,000. First Hawaiian Bank raised its position in Teledyne Technologies by 0.7% during the first quarter. First Hawaiian Bank now owns 3,670 shares of the scientific and technical instruments company's stock valued at $1,827,000 after acquiring an additional 26 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Teledyne Technologies in the first quarter valued at approximately $29,185,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

About Teledyne Technologies

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.