Teledyne Technologies (NYSE:TDY) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

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

Teledyne Technologies Price Performance

Shares of TDY opened at $480.61 on Wednesday. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $492.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The business has a 50-day moving average of $471.72 and a 200-day moving average of $444.32.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,525 shares of company stock worth $26,080,464 over the last ninety days. 1.88% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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