Fintel reports that on August 14, 2023, Goldman Sachs upgraded their outlook for Teledyne Technologies (NYSE:TDY) from Neutral to Buy.

Analyst Price Forecast Suggests 23.05% Upside

As of August 2, 2023, the average one-year price target for Teledyne Technologies is 495.28. The forecasts range from a low of 427.23 to a high of $593.25. The average price target represents an increase of 23.05% from its latest reported closing price of 402.49.

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The projected annual revenue for Teledyne Technologies is 5,738MM, an increase of 2.65%. The projected annual non-GAAP EPS is 19.23.

What is the Fund Sentiment?

There are 1248 funds or institutions reporting positions in Teledyne Technologies. This is a decrease of 6 owner(s) or 0.48% in the last quarter. Average portfolio weight of all funds dedicated to TDY is 0.32%, a decrease of 5.46%. Total shares owned by institutions decreased in the last three months by 7.88% to 47,935K shares. The put/call ratio of TDY is 1.76, indicating a bearish outlook.

What are Other Shareholders Doing?

Price T Rowe Associates holds 5,346K shares representing 11.36% ownership of the company. In it’s prior filing, the firm reported owning 5,771K shares, representing a decrease of 7.95%. The firm decreased its portfolio allocation in TDY by 65.07% over the last quarter.

T. Rowe Price Investment Management holds 2,078K shares representing 4.42% ownership of the company. In it’s prior filing, the firm reported owning 2,651K shares, representing a decrease of 27.55%. The firm decreased its portfolio allocation in TDY by 31.55% over the last quarter.

Select Equity Group holds 2,022K shares representing 4.30% ownership of the company. In it’s prior filing, the firm reported owning 2,218K shares, representing a decrease of 9.65%. The firm decreased its portfolio allocation in TDY by 12.34% over the last quarter.

PRGFX – T. Rowe Price Growth Stock Fund holds 1,585K shares representing 3.37% ownership of the company. In it’s prior filing, the firm reported owning 1,638K shares, representing a decrease of 3.35%. The firm decreased its portfolio allocation in TDY by 3.04% over the last quarter.

PRNHX – T. Rowe Price New Horizons Fund holds 1,537K shares representing 3.26% ownership of the company. In it’s prior filing, the firm reported owning 1,446K shares, representing an increase of 5.92%. The firm increased its portfolio allocation in TDY by 12.36% over the last quarter.

Teledyne Technologies Background Information
(This description is provided by the company.)

Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.

This article originally appeared on Fintel

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