Teledyne Technologies Incorporated (NYSE:TDY) posted its earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.34, Bloomberg Earnings reports. The business had revenue of $662.20 million during the quarter, compared to analyst estimates of $656.20 million. Teledyne Technologies had a return on equity of 14.18% and a net margin of 8.67%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. Teledyne Technologies updated its Q4 guidance to $1.70-$1.75 EPS and its FY17 guidance to $6.66-$6.71 EPS.
Teledyne Technologies (TDY) traded up $0.30 during mid-day trading on Friday, hitting $180.63. The stock had a trading volume of 67,900 shares, compared to its average volume of 169,050. The stock has a market cap of $6,390.26, a P/E ratio of 27.28, a P/E/G ratio of 3.59 and a beta of 1.01. Teledyne Technologies has a 52-week low of $116.51 and a 52-week high of $185.66. The company has a current ratio of 1.98, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.
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A number of research firms have commented on TDY. Jefferies Group LLC lifted their target price on Teledyne Technologies from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and issued a $157.00 target price (up previously from $148.00) on shares of Teledyne Technologies in a report on Wednesday, August 9th. BidaskClub raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. ValuEngine lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Teledyne Technologies currently has a consensus rating of “Hold” and a consensus price target of $175.33.
In related news, CFO Sue Main sold 7,000 shares of Teledyne Technologies stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $183.88, for a total transaction of $1,287,160.00. Following the transaction, the chief financial officer now directly owns 40,874 shares in the company, valued at $7,515,911.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne S. Austin sold 4,000 shares of Teledyne Technologies stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $148.30, for a total value of $593,200.00. Following the transaction, the director now owns 11,458 shares in the company, valued at $1,699,221.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock worth $2,703,095. Company insiders own 3.30% of the company’s stock.
About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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