UBS Group Issues Positive Forecast for Teledyne Technologies (NYSE:TDY) Stock Price

Teledyne Technologies (NYSE:TDY - Get Free Report) had its price objective raised by research analysts at UBS Group from $585.00 to $630.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the scientific and technical instruments company's stock. UBS Group's price target would suggest a potential upside of 14.13% from the stock's current price.

Several other equities analysts have also issued reports on the stock. TD Securities restated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a report 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. Morgan Stanley lifted their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Needham & Company LLC decreased 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. Finally, Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Teledyne Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $5.41 during midday trading on Thursday, reaching $551.99. 134,865 shares of the company were exchanged, compared to its average volume of 324,256. The stock has a market cap of $25.87 billion, a P/E ratio of 31.56, a PEG ratio of 2.61 and a beta of 1.04. The stock's 50-day moving average price is $508.33 and its 200-day moving average price is $493.10. The company has a quick ratio of 1.44, a current ratio of 2.19 and a debt-to-equity ratio of 0.30. Teledyne Technologies has a one year low of $397.78 and a one year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. Teledyne Technologies's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.58 earnings per share. On average, sell-side analysts anticipate that Teledyne Technologies will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its Board of Directors has initiated a stock repurchase program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TDY. Teacher Retirement System of Texas acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $203,000. American Century Companies Inc. increased its position in shares of Teledyne Technologies by 1.0% in the fourth quarter. American Century Companies Inc. now owns 3,195 shares of the scientific and technical instruments company's stock valued at $1,483,000 after buying an additional 32 shares in the last quarter. LPL Financial LLC increased its position in shares of 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 valued at $13,166,000 after buying an additional 2,224 shares in the last quarter. Modern Wealth Management LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter valued at $229,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Teledyne Technologies by 18.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,316 shares of the scientific and technical instruments company's stock valued at $611,000 after acquiring an additional 202 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.

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