Teledyne Technologies (TDY) Set to Announce Quarterly Earnings on Wednesday

Teledyne Technologies (NYSE:TDY) is scheduled to announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $4.64 per share for the quarter. Teledyne Technologies has set its Q1 guidance at $4.55-4.65 EPS and its FY24 guidance at $20.35-20.68 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.40. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. Teledyne Technologies’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.94 EPS. On average, analysts expect Teledyne Technologies to post $21 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $401.36 on Monday. The business’s fifty day moving average price is $420.68 and its two-hundred day moving average price is $415.19. The stock has a market cap of $19.02 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. Teledyne Technologies has a one year low of $364.98 and a one year high of $448.19.

Insider Transactions at Teledyne Technologies

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the sale, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the transaction, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the transaction, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The disclosure for this sale can be found here. Insiders have sold 6,711 shares of company stock worth $2,890,621 over the last quarter. 2.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Teledyne Technologies in the fourth quarter valued at about $166,954,000. Durable Capital Partners LP purchased a new position in Teledyne Technologies in the first quarter valued at about $140,332,000. 1832 Asset Management L.P. raised its position in Teledyne Technologies by 262.9% in the first quarter. 1832 Asset Management L.P. now owns 184,700 shares of the scientific and technical instruments company’s stock valued at $82,627,000 after purchasing an additional 133,800 shares during the period. Goldman Sachs Group Inc. raised its position in Teledyne Technologies by 60.4% in the first quarter. Goldman Sachs Group Inc. now owns 337,996 shares of the scientific and technical instruments company’s stock valued at $159,746,000 after purchasing an additional 127,218 shares during the period. Finally, Millennium Management LLC raised its position in Teledyne Technologies by 252.2% in the fourth quarter. Millennium Management LLC now owns 146,307 shares of the scientific and technical instruments company’s stock valued at $58,510,000 after purchasing an additional 104,763 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TDY shares. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Needham & Company LLC decreased their price objective on Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. 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.

About Teledyne Technologies

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.