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

Teledyne Technologies (NYSE:TDY) issued 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. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.53 EPS.

Teledyne Technologies Stock Performance

TDY traded down $46.81 during trading hours on Wednesday, hitting $360.25. 325,467 shares of the stock were exchanged, compared to its average volume of 216,819. The stock has a 50-day simple moving average of $419.96 and a 200-day simple moving average of $415.27. Teledyne Technologies has a 12 month low of $359.31 and a 12 month high of $448.19. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17.

Analysts Set New Price Targets

TDY has been the topic of several recent research reports. Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and a consensus target price of $515.67.

Insider Buying and Selling

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the sale, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares in the company, valued at $24,348,052. The disclosure for this sale can be found here. Insiders have sold 6,711 shares of company stock worth $2,890,621 over the last ninety days. 1.88% of the stock is owned by 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.