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

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

Teledyne Technologies Stock Up 6.5 %

Shares of NYSE TDY opened at $511.63 on Thursday. The firm’s 50-day moving average price is $471.57 and its 200-day moving average price is $445.02. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.84 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 3.00 and a beta of 1.01. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $515.99.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares in the company, valued at $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,525 shares of company stock worth $26,080,464. Insiders own 2.14% of the company’s stock.

Analysts Set New Price Targets

TDY has been the subject of a number of recent research reports. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their target price on shares of 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 initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC lifted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $531.00.

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.