Morgan Stanley Forecasts Strong Price Appreciation for Teledyne Technologies (NYSE:TDY) Stock

Teledyne Technologies (NYSE:TDY) had its price objective increased by Morgan Stanley from $715.00 to $725.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley‘s price target indicates a potential upside of 8.87% from the stock’s current price.

A number of other research analysts also recently commented on TDY. Weiss Ratings upgraded Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. Zacks Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Needham & Company LLC boosted their price target on Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Stifel Nicolaus increased their price objective on Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Barclays raised their price objective on shares of Teledyne Technologies from $640.00 to $646.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $731.83.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $6.03 during midday trading on Tuesday, hitting $665.94. The company’s stock had a trading volume of 72,351 shares, compared to its average volume of 342,584. Teledyne Technologies has a 12 month low of $483.02 and a 12 month high of $697.67. The company has a quick ratio of 1.51, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $618.73 and its 200-day moving average price is $633.59. The company has a market capitalization of $30.66 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.55. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. Teledyne Technologies’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $5.57 EPS. Analysts anticipate that Teledyne Technologies will post 25.59 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director owned 55,783 shares of the company’s stock, valued at approximately $37,951,406.22. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teledyne Technologies

Institutional investors have recently modified their holdings of the business. CX Institutional lifted its position in shares of Teledyne Technologies by 2.8% during the second quarter. CX Institutional now owns 617 shares of the scientific and technical instruments company’s stock valued at $411,000 after purchasing an additional 17 shares in the last quarter. Assetmark Inc. increased its stake in Teledyne Technologies by 10.5% in the 1st quarter. Assetmark Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 18 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Teledyne Technologies by 0.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 5,698 shares of the scientific and technical instruments company’s stock valued at $3,458,000 after buying an additional 19 shares during the last quarter. Parvin Asset Management LLC lifted its holdings in Teledyne Technologies by 12.5% during the first quarter. Parvin Asset Management LLC now owns 180 shares of the scientific and technical instruments company’s stock worth $109,000 after acquiring an additional 20 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Teledyne Technologies by 1.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,098 shares of the scientific and technical instruments company’s stock worth $1,273,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

About Teledyne Technologies

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.