Teledyne Technologies (NYSE:TDY) Announces Earnings Results

Teledyne Technologies (NYSE:TDY) issued its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08), RTT News reports. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company posted $4.53 earnings per share. Teledyne Technologies’s revenue was down 2.4% compared to the same quarter last year.

Teledyne Technologies Price Performance

Shares of TDY opened at $407.04 on Wednesday. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 2.60 and a beta of 1.02. The business’s 50-day moving average is $419.96 and its 200-day moving average is $415.27. Teledyne Technologies has a fifty-two week low of $364.98 and a fifty-two week high of $448.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Needham & Company LLC cut their price target on shares of Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $515.67.

Insider Activity at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the sale, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the sale, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,711 shares of company stock valued at $2,890,621. 1.88% of the stock is owned by corporate insiders.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.