Teledyne Technologies Incorporated (NYSE:TDY) announced its earnings results on Thursday. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34, Bloomberg Earnings reports. Teledyne Technologies had a return on equity of 14.18% and a net margin of 8.67%. The company had revenue of $662.20 million during the quarter, compared to analysts’ expectations of $656.20 million. During the same period last year, the business posted $1.46 EPS. Teledyne Technologies’s revenue for the quarter was up 25.7% on a year-over-year basis. Teledyne Technologies updated its Q4 guidance to $1.70-$1.75 EPS and its FY17 guidance to $6.66-$6.71 EPS.
Shares of Teledyne Technologies (NYSE TDY) traded up $12.54 on Friday, hitting $182.40. The stock had a trading volume of 214,044 shares, compared to its average volume of 121,709. The company has a current ratio of 1.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6,292.56, a PE ratio of 26.94, a PEG ratio of 3.55 and a beta of 1.01.
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A number of brokerages recently commented on TDY. Jefferies Group LLC raised their target price on Teledyne Technologies from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday. Needham & Company LLC raised their target price on Teledyne Technologies from $157.00 to $190.00 and gave the company a “buy” rating in a report on Friday. ValuEngine cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BidaskClub upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Teledyne Technologies has a consensus rating of “Hold” and a consensus target price of $175.33.
In other news, SVP Jason Vanwees sold 6,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $147.07, for a total value of $882,420.00. Following the sale, the senior vice president now directly owns 35,159 shares of the company’s stock, valued at approximately $5,170,834.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $148.30, for a total transaction of $593,200.00. Following the completion of the sale, the director now directly 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 ninety days, insiders sold 14,000 shares of company stock worth $2,060,420. 3.30% of the stock is owned by insiders.
Teledyne Technologies Company Profile
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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