Morgan Stanley Raises Teledyne Technologies (NYSE:TDY) Price Target to $580.00

Teledyne Technologies (NYSE:TDY - Free Report) had its target price upped by Morgan Stanley from $535.00 to $580.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company's stock.

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

Teledyne Technologies Price Performance

TDY traded up $5.28 during trading on Thursday, reaching $564.28. 867,929 shares of the stock were exchanged, compared to its average volume of 277,514. The business's 50 day moving average price is $503.02 and its two-hundred day moving average price is $490.48. 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 company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 2.54 and a beta of 1.04. Teledyne Technologies has a 1 year low of $391.58 and a 1 year high of $564.35.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results 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. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. Teledyne Technologies's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.55 earnings per share. As a group, equities research analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current year.

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Teledyne Technologies by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock valued at $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Teledyne Technologies by 0.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after purchasing an additional 13,607 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Teledyne Technologies by 10.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock valued at $726,369,000 after purchasing an additional 143,062 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 7.1% in the first quarter. JPMorgan Chase & Co. now owns 1,102,795 shares of the scientific and technical instruments company's stock valued at $548,872,000 after purchasing an additional 73,009 shares during the last quarter. Finally, Norges Bank purchased a new position in Teledyne Technologies in the fourth quarter valued at about $306,042,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.