FY2023 EPS Estimates for Teledyne Technologies Incorporated Reduced by Analyst (NYSE:TDY)

Teledyne Technologies Incorporated (NYSE:TDY – Free Report) – Equities researchers at Zacks Research reduced their FY2023 EPS estimates for shares of Teledyne Technologies in a research report issued on Tuesday, September 19th. Zacks Research analyst S. Kedia now anticipates that the scientific and technical instruments company will earn $19.10 per share for the year, down from their prior forecast of $19.13. The consensus estimate for Teledyne Technologies’ current full-year earnings is $19.12 per share. Zacks Research also issued estimates for Teledyne Technologies’ Q1 2024 earnings at $5.01 EPS, Q2 2024 earnings at $4.87 EPS, Q4 2024 earnings at $5.43 EPS and Q1 2025 earnings at $5.09 EPS.

Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.04. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Teledyne Technologies had a net margin of 13.75% and a return on equity of 10.90%. Teledyne Technologies’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.43 EPS.

TDY has been the topic of a number of other reports. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Bank of America increased their target price on shares of Teledyne Technologies from $533.00 to $565.00 in a research note on Thursday, May 25th. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, July 27th. Finally, The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $423.00 to $495.00 in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $500.40.

Check Out Our Latest Stock Report on TDY

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $414.54 on Friday. The stock has a market capitalization of $19.52 billion, a P/E ratio of 25.78, a PEG ratio of 3.45 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $404.29 and its 200 day moving average is $411.06. Teledyne Technologies has a 12 month low of $325.00 and a 12 month high of $448.71.

Hedge Funds Weigh In On Teledyne Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TDY. Kistler Tiffany Companies LLC bought a new position in shares of Teledyne Technologies during the 2nd quarter valued at $25,000. Benjamin Edwards Inc. grew its holdings in Teledyne Technologies by 137.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 69 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. CVA Family Office LLC bought a new stake in Teledyne Technologies in the 4th quarter worth $30,000. TCI Wealth Advisors Inc. lifted its position in shares of Teledyne Technologies by 236.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 74 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 52 shares during the period. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth about $36,000. Institutional investors own 87.57% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other news, CEO Robert Mehrabian sold 45,500 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the transaction, the chief executive officer now owns 196,052 shares of the company’s stock, valued at approximately $81,583,118.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Robert Mehrabian sold 45,500 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the transaction, the chief executive officer now owns 196,052 shares of the company’s stock, valued at approximately $81,583,118.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Schack Wesley W. Von sold 376 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $412.30, for a total transaction of $155,024.80. Following the completion of the transaction, the director now directly owns 11,967 shares in the company, valued at approximately $4,933,994.10. The disclosure for this sale can be found here. Insiders have sold 61,646 shares of company stock valued at $25,717,295 in the last quarter. Insiders own 2.14% of the company’s stock.

About Teledyne Technologies

(Get Free Report)

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.

Earnings History and Estimates for Teledyne Technologies (NYSE:TDY)

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