You could get much better (perhaps even useful) advice if you told us the part number or model number or a link to a web page or PDF file with technical info about these specific sensors. Knowing which Teensy you're using, and some idea of what you're trying to really accomplish could also go a long way towards help us give you useful tips.
But to answer your original question: no, you can't use the 74HCT245 chip. It converts digital signals from lower voltage to 5V. The 74HCT245 is never useful to convert from 5V down to something lower. That's simply not how the 74HCT245 works.