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

Teledyne Technologies (NYSE:TDY) released its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08), RTT News reports. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company earned $4.53 earnings per share. Teledyne Technologies’s quarterly revenue was down 2.4% on a year-over-year basis.

Teledyne Technologies Price Performance

Shares of NYSE:TDY traded down $46.81 on Wednesday, reaching $360.25. The company’s stock had a trading volume of 325,467 shares, compared to its average volume of 216,819. Teledyne Technologies has a 52-week low of $359.31 and a 52-week high of $448.19. The company has a market cap of $17.07 billion, a P/E ratio of 19.87, a PEG ratio of 2.60 and a beta of 1.02. The company has a 50-day simple moving average of $419.96 and a 200 day simple moving average of $415.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TDY. Needham & Company LLC cut their price target on shares of Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $515.67.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the sale, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction dated 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 sale, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 in the last three months. Corporate insiders own 1.88% 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.