Teledyne Technologies (NYSE:TDY) Posts Earnings Results, Beats Expectations By $0.55 EPS

Teledyne Technologies (NYSE:TDY) posted its earnings results on Wednesday. The scientific and technical instruments company reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.55, FiscalAI reports. Teledyne Technologies had a net margin of 15.29% and a return on equity of 10.56%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $628.44 on Wednesday. The firm has a market capitalization of $29.13 billion, a P/E ratio of 30.34, a P/E/G ratio of 2.70 and a beta of 0.89. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $620.19 and its two-hundred day simple moving average is $631.16. Teledyne Technologies has a twelve month low of $483.02 and a twelve month high of $697.67.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon Lorne sold 6,449 shares of Teledyne Technologies stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the sale, the director owned 55,783 shares in the company, valued at approximately $37,951,406.22. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TDY has been the subject of a number of analyst reports. Citigroup lifted their price target on Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Morgan Stanley increased their price objective on Teledyne Technologies from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Zacks Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings restated a “buy (b)” rating on shares of Teledyne Technologies in a report on Wednesday, August 19th. Finally, Needham & Company LLC lifted their target price on Teledyne Technologies from $750.00 to $760.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $723.33.

About Teledyne Technologies

Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.