Teledyne Technologies (NYSE:TDY) Issues Quarterly Earnings Results

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

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $377.06 on Friday. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The business has a fifty day moving average price of $417.57 and a 200-day moving average price of $414.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17. The firm has a market capitalization of $17.87 billion, a P/E ratio of 20.39, a PEG ratio of 2.48 and a beta of 1.02.

Analysts Set New Price Targets

Several brokerages have issued reports on TDY. TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC decreased their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $490.00 to $400.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $474.86.

Insider Transactions at Teledyne Technologies

In related news, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was 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 in the company, valued at $28,711,789.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the 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 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. Insiders sold 6,711 shares of company stock valued at $2,890,621 over the last three months. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Company Profile

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.