Teledyne Technologies (NYSE:TDY) Releases Earnings Results, Beats Estimates By $0.29 EPS

Teledyne Technologies (NYSE:TDY) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29, Zacks reports. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1,451,400 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $5.44 earnings per share.

Teledyne Technologies Price Performance

Shares of TDY opened at $511.63 on Thursday. The company has a market capitalization of $23.84 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.00 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $471.57 and a 200 day moving average of $445.02. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $515.99.

Insider Activity at Teledyne Technologies

In related news, Vice Chairman Jason Vanwees sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the completion of the sale, the insider now owns 2,900 shares of the company’s stock, valued at $1,417,259. This trade represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,525 shares of company stock valued at $26,080,464 over the last 90 days. Corporate insiders own 2.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TDY shares. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Needham & Company LLC raised their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $531.00.

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.