Teledyne Technologies (NYSE:TDY) Releases Quarterly Earnings Results, Beats Estimates By $0.55 EPS

Key Points

• Teledyne Technologies beat quarterly expectations: The company reported EPS of $6.72, exceeding consensus by $0.55, while revenue reached $1.68 billion versus the $1.65 billion estimate.
• Shares rose 1.4%: Teledyne opened at $628.44, with a market capitalization of approximately $29.13 billion and a price-to-earnings ratio of 30.34.
• Analyst sentiment remains positive: The stock has a “Moderate Buy” consensus rating and an average price target of $723.33, although ratings range from Strong Buy to Hold.

Teledyne Technologies (NYSE:TDY - Get Free Report) released its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.55, FiscalAI reports. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Teledyne Technologies had a net margin of 15.29% and a return on equity of 10.56%.

Teledyne Technologies Stock Up 1.4%

Teledyne Technologies stock opened at $628.44 on Wednesday. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.70 and a beta of 0.89. Teledyne Technologies has a 52-week low of $483.02 and a 52-week high of $697.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.39 and a current ratio of 2.18. The firm has a 50 day moving average price of $620.19 and a two-hundred day moving average price of $631.16.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the 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 directly 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 is accessible through this link. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on TDY shares. Citigroup increased their price objective on Teledyne Technologies from $677.00 to $680.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Teledyne Technologies in a report on Wednesday, August 19th. Zacks Research downgraded Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Needham & Company LLC upped their price target on Teledyne Technologies from $750.00 to $760.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. Finally, Barclays increased their price target on Teledyne Technologies from $614.00 to $640.00 and gave the company an "equal weight" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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