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

Teledyne Technologies (NYSE:TDY) released its earnings results 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. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1,451,400 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.44 earnings per share.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $515.10 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $472.07 and a two-hundred day simple moving average of $445.49. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $518.85. The firm has a market capitalization of $24.00 billion, a P/E ratio of 29.90, a P/E/G ratio of 3.24 and a beta of 1.01.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This represents a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,525 shares of company stock worth $26,080,464. 2.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen upped 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. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Finally, Needham & Company LLC lifted their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average 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.