Teledyne Technologies (NYSE:TDY) Price Target Raised to $615.00

Key Points

• Needham & Company LLC has raised its price target for Teledyne Technologies from $585.00 to $615.00, indicating a potential upside of 13.31% from the current stock price.
• Teledyne Technologies reported a quarterly EPS of $5.57, exceeding analysts' expectations, and had a revenue of $1.54 billion during the quarter, reflecting a 6.7% year-over-year increase.
• Institutional investors own 91.58% of Teledyne's stock, with significant recent purchases indicating strong confidence in the company's future performance.

Teledyne Technologies (NYSE:TDY - Get Free Report) had its price target upped by equities researchers at Needham & Company LLC from $585.00 to $615.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the scientific and technical instruments company's stock. Needham & Company LLC's price target would suggest a potential upside of 13.31% from the company's current price.

Other analysts have also recently issued reports about the stock. UBS Group lifted their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Barclays began coverage on shares of Teledyne Technologies in a research note on Wednesday, October 8th. They issued an "equal weight" rating and a $606.00 target price for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Teledyne Technologies in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Teledyne Technologies from $580.00 to $620.00 and gave the company an "equal weight" rating in a report on Wednesday, October 15th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Teledyne Technologies currently has an average rating of "Moderate Buy" and an average target price of $593.38.

Teledyne Technologies Trading Down 5.4%

Shares of TDY opened at $542.75 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $558.98 and a 200-day simple moving average of $521.47. Teledyne Technologies has a 1-year low of $419.00 and a 1-year high of $595.99. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 earnings per share for the quarter, topping analysts' consensus estimates of $5.47 by $0.10. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The company's revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $5.10 EPS. Teledyne Technologies has set its FY 2025 guidance at 21.450-21.600 EPS. Q4 2025 guidance at 5.730-5.880 EPS. Equities analysts forecast that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its board has authorized a stock buyback plan on Wednesday, July 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Teledyne Technologies news, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value of $3,740,686.35. Following the transaction, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. The trade was a 39.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the completion of the transaction, the director owned 61,913 shares in the company, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock worth $8,315,662 in the last quarter. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in Teledyne Technologies by 75.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 51 shares of the scientific and technical instruments company's stock worth $26,000 after buying an additional 22 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock worth $26,000 after buying an additional 35 shares in the last quarter. Rexford Capital Inc. acquired a new position in Teledyne Technologies in the 2nd quarter worth $29,000. TCTC Holdings LLC lifted its holdings in Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 37 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Teledyne Technologies by 52.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 78 shares of the scientific and technical instruments company's stock worth $40,000 after buying an additional 27 shares in 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.

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