Teledyne Technologies (NYSE:TDY) Announces Quarterly Earnings Results, Misses Estimates 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. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business earned $4.53 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $362.50 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. The stock has a fifty day moving average of $418.66 and a two-hundred day moving average of $414.90. The company has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.62 and a beta of 1.02. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction on 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 sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction on 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 sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly 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. Over the last 90 days, insiders sold 6,711 shares of company stock valued at $2,890,621. Corporate insiders own 2.14% 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.