Teledyne Technologies (NYSE:TDY) Announces Quarterly Earnings Results

Teledyne Technologies (NYSE:TDY) released its earnings results on Wednesday. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.55, FiscalAI reports. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Teledyne Technologies had a return on equity of 10.56% and a net margin of 15.29%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $5.57 earnings per share.

Teledyne Technologies Stock Performance

NYSE TDY opened at $628.44 on Wednesday. The company’s 50 day simple moving average is $620.19 and its two-hundred day simple moving average is $631.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.18 and a quick ratio of 1.39. Teledyne Technologies has a 1 year low of $483.02 and a 1 year high of $697.67. The stock has a market capitalization of $29.13 billion, a PE ratio of 30.34, a P/E/G ratio of 2.70 and a beta of 0.89.

Analyst Ratings Changes

TDY has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Teledyne Technologies in a research note on Wednesday, August 19th. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $750.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Stifel Nicolaus upped their price objective on shares of Teledyne Technologies from $750.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Teledyne Technologies from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average target price of $723.33.

Insider Activity at Teledyne Technologies

In other news, Director Simon Lorne sold 6,449 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director owned 55,783 shares of the company’s stock, valued at approximately $37,951,406.22. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.36% of the stock is owned by company insiders.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.