Teledyne Technologies (NYSE:TDY) Issues Earnings Results, Misses Estimates By $0.08 EPS

Teledyne Technologies (NYSE:TDY) announced its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08), RTT News reports. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. Teledyne Technologies’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.53 earnings per share.

Teledyne Technologies Stock Down 0.6 %

TDY stock opened at $374.64 on Friday. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81. The company has a fifty day moving average of $416.42 and a 200-day moving average of $414.39. The stock has a market capitalization of $17.75 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TDY shares. Bank of America cut Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $490.00 to $400.00 in a research note on Friday. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen dropped their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $474.86.

Insider Activity

In other news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now owns 56,492 shares in the company, valued at $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. In the last three months, insiders sold 6,711 shares of company stock worth $2,890,621. Company insiders own 2.14% of the company’s stock.

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.