NEW YORK ( TheStreet) -- Teledyne Technologies (NYSE: TDY) hit a new 52-week high Thursday as it is currently trading at $53.55, above its previous 52-week high of $53.35 with 82,559 shares traded as of 10:32 a.m. ET. Average volume has been 200,000 shares over the past 30 days.

Teledyne has a market cap of $1.9 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are up 12.2% year to date as of the close of trading on Wednesday.

Teledyne Technologies Incorporated provides instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems in the United States and internationally. The company has a P/E ratio of 14.8, equal to the average aerospace/defense industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Teledyne as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Teledyne Ratings Report.

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