TDY: This Stable Company is Poised for Growth!

Teledyne Technologies, (TDY) is a maker of high-end communications gear, aircraft data acquisition systems, aircraft engines and engineering services. This Thousand Oaks, Calif.-based company's annual profit has risen the past six years after stumbling in 2000 and '01. Its five-year earnings per share growth rate is a solid 31%. Teledyne recently reported Q2 profit that rose 33% and topped the consensus forecast by 16 cents a share. It's now beaten Wall Street views for a 14th straight quarter by at least 3 cents a share. "We believe Teledyne remains on a well-defined path, and we think TDY presents investors with an opportunity to take part in a firm that should continue to grow operations prudently while positioning itself as one of the primary players in the small-cap defense consolidation currently under way," BB&T Capital Markets said in a report. Teledyne has been busy with acquisitions. Earlier this month it bought the defense electronics business of U.K.-based Filtronic for about $26 million. In July it bought Massachusetts-based Webb Research, a maker of autonomous underwater gliding vehicles, for undisclosed terms. The stock is 6% past a 60.08 buy point since breaking out of a base-on-base pattern July 24. Buy. Good Trading!