Teledyne Technologies Incorporated TDY, headquartered in Thousand Oaks, California, is a leading provider of sophisticated instrumentation. With a market cap of $21.7 billion, the company provides aerospace and defense electronics, digital imaging products and software, monitoring instrumentation for marine and environmental applications, harsh environment interconnect products, and subsystems for satellite communications.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and TDY fits right into that category with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the scientific & technical instruments industry. TDY’s diversified product portfolio through strategic acquisition effectively enhances its technological capabilities and market reach. The company’s innovation and investment in R&D, global presence, and long-term contracts has enabled it to maintain a competitive edge over its peers.
Despite its notable strength, TDY slipped 5.5% from its 52-week high of $492, achieved on Nov. 8. Over the past three months, TDY stock gained 6.5%, outperforming the S&P 500 Index’s ($SPX) 2.7% gains during the same time frame.
In the longer term, shares of TDY rose 4.2% on a YTD basis and climbed 8.4% over the past 52 weeks, underperforming SPX’s 23% gains on a YTD basis and over the last year.
To confirm the bullish trend, TDY has been trading above its 200-day moving average since late July, with slight fluctuations. However, the stock is trading below its 50-day moving average recently.
On Oct. 23, TDY shares closed up by 6% after reporting its Q3 results. Its revenue of $1.44 billion, beat Wall Street forecasts of $1.42 billion. The company’s adjusted EPS was $5.10, surpassing analyst estimates of $4.97. TDY expects full-year adjusted EPS to be between $19.35 and $19.45.
In the competitive arena of scientific & technical instruments, Keysight Technologies, Inc. (KEYS) shares lagged behind the stock, with marginal gains on a YTD basis and over the past 52 weeks.
Wall Street analysts are bullish on TDY’s prospects. The stock has a consensus “Strong Buy” rating from the nine analysts covering it, and the mean price target of $540.78 suggests a potential upside of 16.3% from current price levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
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