NEW YORK ( TheStreet) -- Teledyne Technologies (NYSE: TDY) hit a new 52-week high Wednesday as it is currently trading at $55.06, above its previous 52-week high of $55 with 9,505 shares traded as of 9:35 a.m. ET. Average volume has been 232,500 shares over the past 30 days.

Teledyne has a market cap of $2 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are up 23.8% year to date as of the close of trading on Tuesday.

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 14.5, above the average aerospace/defense industry P/E ratio of eight 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, compelling growth in net income and expanding profit margins. 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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