Teledyne Technologies (NYSE:TDY) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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

Teledyne Technologies Stock Performance

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total transaction of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies 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 directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is currently owned by company insiders.

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.