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Teledyne Technologies

Teledyne Technologies Inc sells technologies for industrial markets. Roughly a fourth of Teledyne's revenue comes from contracts with the United States government. The firm operates in four segments: instrumentation, digital imaging, aerospace and defense electronics, and engineered systems. The instrumentation segment provides monitoring instruments primarily for marine and environmental applications. The digital imaging segment contributes the largest proportion of revenue and includes image sensors and cameras for industrial, government, and medical customers. The aerospace and defense electronics segment provides electronic components and communication products for aircraft. The engineered systems segment provides solutions for defense, space, environmental, and energy applications.

Teledyne Technologies Incorporated Common Stock

Teledyne Technologies Inc

THERMODYNETICS INC by Thermodynetics, Inc.

Thermodynetics Inc

Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) is preparing to release its quarterly earnings on Wednesday, 2024-10-23. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Teledyne Technologies to report an earnings per share (EPS) of $4.97.
Investors in Teledyne Technologies are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Past Earnings Performance</h3>
The company's EPS beat by $0.09 in the last quarter, leading to a 0.31% drop in the share price on the following day.
Here's a look at Teledyne Technologies's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>4.49</td>
<td>4.63</td>
<td>5.04</td>
<td>4.76</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>4.58</td>
<td>4.55</td>
<td>5.44</td>
<td>5.05</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.0%</td>
<td>4.0%</td>
<td>2.0%</td>
<td>-0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729620095_0.png" alt="eps graph" />
<h3>Teledyne Technologies Share Price Analysis</h3>
Shares of Teledyne Technologies were trading at $446.93 as of October 21. Over the last 52-week period, shares are up 19.21%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Perspectives on Teledyne Technologies</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Teledyne Technologies.
Teledyne Technologies has received a total of 1 ratings from analysts, with the consensus rating as Buy. With an average one-year price target of $482.0, the consensus suggests a potential 7.85% upside.
<h3>Peer Ratings Overview</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Zebra Technologies, Keysight Techs and Cognex, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for Zebra Technologies, with an average 1-year price target of $375.71, suggesting a potential 15.94% downside.</li>
<li>As per analysts' assessments, Keysight Techs is favoring an Outperform trajectory, with an average 1-year price target of $164.12, suggesting a potential 63.28% downside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for Cognex, with an average 1-year price target of $45.43, implying a potential 89.84% downside.</li>
</ul>
<h3>Snapshot: Peer Analysis</h3>
In the peer analysis summary, key metrics for Zebra Technologies, Keysight Techs and Cognex are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Teledyne Technologies</td>
<td>Buy</td>
<td>-3.55%</td>
<td>$592.60M</td>
<td>1.93%</td>
</tr>
<tr>
<td>Zebra Technologies</td>
<td>Neutral</td>
<td>0.25%</td>
<td>$589M</td>
<td>3.50%</td>
</tr>
<tr>
<td>Keysight Techs</td>
<td>Outperform</td>
<td>-11.94%</td>
<td>$755M</td>
<td>7.68%</td>
</tr>
<tr>
<td>Cognex</td>
<td>Buy</td>
<td>-1.33%</td>
<td>$166.60M</td>
<td>2.42%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Teledyne Technologies ranks at the top for Gross Profit and Return on Equity among its peers. However, it ranks at the bottom for Revenue Growth.
<h3>All You Need to Know About Teledyne Technologies</h3>
Teledyne Technologies Inc sells technologies for industrial markets. Roughly a fourth of Teledyne's revenue comes from contracts with the United States government. The firm operates in four segments: instrumentation, digital imaging, aerospace and defense electronics, and engineered systems. The instrumentation segment provides monitoring instruments primarily for marine and environmental applications. The digital imaging segment contributes the largest proportion of revenue and includes image sensors and cameras for industrial, government, and medical customers. The aerospace and defense electronics segment provides electronic components and communication products for aircraft. The engineered systems segment provides solutions for defense, space, environmental, and energy applications.
<h3>Teledyne Technologies's Economic Impact: An Analysis</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Teledyne Technologies's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -3.55%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Teledyne Technologies's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 13.11%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Teledyne Technologies's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 1.93%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Teledyne Technologies's ROA excels beyond industry benchmarks, reaching 1.25%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.3, Teledyne Technologies adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/TDY/earnings">To track all earnings releases for Teledyne Technologies visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Teledyne Technologies's Earnings: A Preview

News

Contracts

Teledyne FLIR Defense Announces $91M Contract From US Army For Black Hornet 4 Nano-Drones

Investors interested in Aerospace - Defense Equipment stocks are likely familiar with CAE (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cae#NYSE">CAE</a>) and Teledyne Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdy#NYSE">TDY</a>). But which of these two stocks is more attractive to value investors? We&#39;ll need to take a closer look to find out.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Right now, both CAE and Teledyne Technologies are sporting a Zacks Rank of # 2 (Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. But this is just one piece of the puzzle for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
CAE currently has a forward P/E ratio of 21.82, while TDY has a forward P/E of 22.92. We also note that CAE has a PEG ratio of 1.37. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock&#39;s expected earnings growth rate. TDY currently has a PEG ratio of 3.12.
Another notable valuation metric for CAE is its P/B ratio of 1.86. Investors use the P/B ratio to look at a stock&#39;s market value versus its book value, which is defined as total assets minus total liabilities. By comparison, TDY has a P/B of 2.24.
These metrics, and several others, help CAE earn a Value grade of B, while TDY has been given a Value grade of C.
Both CAE and TDY are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that CAE is the superior value option right now.
<a href="https://www.zacks.com/stock/news/2352542/cae-or-tdy-which-is-the-better-value-stock-right-now?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_3-2352542">To read this article on Zacks.com click here.</a>

Large Cap

Mid Cap

Markets

Analyst Ratings

Trading Ideas

CAE or TDY: Which Is the Better Value Stock Right Now?

Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) has outperformed the market over the past 10 years by 5.27% on an annualized basis producing an average annual return of 16.48%. Currently, Teledyne Technologies has a market capitalization of $20.25 billion. 
Buying $100 In TDY: If an investor had bought $100 of TDY stock 10 years ago, it would be worth $453.55 today based on a price of $432.74 for TDY at the time of writing.
<h3>Teledyne Technologies's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727193618_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth $500 Today

Teledyne FLIR Defense Receives Two Five-Year Requirements Contracts Worth Up To $47M In Total To Provide And Support Nearly Its Entire Range Of Ground Robots To US Government

<a href="https://www.defense.gov/News/Contracts/Contract/Article/3910169/" title="https://www.defense.gov/News/Contracts/Contract/Article/3910169/">https://www.defense.gov/News/Contracts/Contract/Article/3910169/</a>

Reported September 18; Teledyne FLIR Awarded $13.2M Contract Modification For IdentiFINDER Systems And Support, With Work To Be Completed By September 2027

Teledyne Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) short percent of float has risen 4.83% since its last report. The company recently reported that it has 545 thousand shares sold short, which is 1.52% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.63 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Teledyne Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726605921_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Teledyne Technologies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Teledyne Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Teledyne Technologies's peer group average for short interest as a percentage of float is 6.89%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Teledyne Technologies's Recent Short Interest

Teledyne Technologies, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdy#NYSE">TDY</a>)&nbsp;business unit, Teledyne FLIR Defense, recently won a $20.8 million contract to supply its Star SAFIRE 380-HLD multi-spectral imaging systems. The award has been offered by the Japan Maritime Self-Defense Force.
Within the next three years, Teledyne is expected to supply 10 Star SAFIRE 380-HLD systems as part of the agreement. The company has already shipped one spare unit and two systems to JMSDF for testing and assessment.
<h2>Significance of TDY&#39;s Star SAFIRE 380-HLD</h2>
The Star SAFIRE 380-HLD is an ultra-long-range aerial surveillance system that provides high-definition visual and thermal images to operators. It has excellent picture stabilization and, with its laser designator and rangefinder, delivers extremely precise target localization and laser spot placement.
With its exceptional capabilities, the SS 380-HLD can function in all weather situations. It is the world&#39;s most commonly used imaging system of its kind for intelligence, surveillance, reconnaissance and targeting operations.
<h2>TDY&#39;s Place in Military Thermal Imaging</h2>
With the advancement and integration of technology into larger defense and security systems, military thermal imaging is witnessing increasing demand from military and law enforcement sectors for its enhanced operational capabilities.
This is likely to have prompted the Market Research Future firm to predict that the military thermal imaging market will witness a CAGR of 8.1% during the 2024-2032 period. This market growth prospect is anticipated to bode well for Teledyne, which offers a wide range of thermal imaging systems for military operations.
TDY is a well-known producer of sophisticated technological solutions for the aerospace and defense industries, including thermal imaging systems. These systems are critical for modern military and law enforcement operations, allowing people to detect, identify and engage targets effectively in a variety of environments where visibility is limited or obstructed.
Its product portfolio includes a wide variety of military thermal weapons sights, such as Ranger HRC-MS, Ranger HDC and Ranger MS-UC DefendIR. Such significant products in its portfolio enable Teledyne to witness a stream of order flow like the latest one, which is likely to boost its revenue generation prospects.
<h2>Opportunities for TDY&#39;s Peers</h2>
Apart from Teledyne, other defense majors, who have established themselves in the military thermal imaging business and thus stand to gain from the anticipated expansion of this industry, are as follows:
RTX Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>): The company&#39;s Combined Vision System gives pilots the finest possible perspective by combining real-time thermal images from its improved vision system with weather-independent synthetic vision in a single view for advanced situational awareness. It also offers full-view dynamic object identification and eliminates unexpected collisions.
The RTX stock boasts a long-term (three to five years) earnings growth rate of 10.4%. The Zacks Consensus Estimate for 2024 sales indicates an improvement of 7% from the previous year&#39;s figure.
BAE Systems (OTC: <a class="ticker" href="https://www.benzinga.com/stock/baesy#OTC">BAESY</a>): The company&#39;s Thermal Imaging Module TIM 1500 allows the user to see deep into the battlefield, increasing surveillance and target acquisition range and giving the warfighter the capacity to outperform the opponent in battlefield.
The stock boasts a long-term earnings growth rate of 12.4%. The Zacks Consensus Estimate for BAESY&#39;s 2024 sales implies an improvement of 36.3% from the previous year&#39;s level.
L3Harris Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lhx#NYSE">LHX</a>): The company&#39;s Infrared Target Acquisition Sight system enhances thermal imaging capabilities in armored combat vehicles, resulting in improved target detection, recognition and identification ranges.
The LHX stock boasts a long-term earnings growth rate of 9.3%. The Zacks Consensus Estimate for L3Harris&#39; 2024 sales implies an improvement of 9.6% from the previous year&#39;s level.
<h2>TDY Stock&#39;s Price Movement</h2>
In the past three months, TDY shares have risen 8.4% compared to the industry&#39;s 5.2% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d0/76998.jpg?v=147037322" />
Image Source: Zacks Investment Research
<h2>TDY&#39;s Zacks Rank</h2>
Teledyne currently has a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2333449/teledyne-wins-deal-to-supply-multi-spectral-imaging-systems?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2333449">To read this article on Zacks.com click here.</a>

Events

Tech

BAESY

Teledyne Wins Deal to Supply Multi-Spectral Imaging Systems

Star SAFIRE 380-HLD imaging sensor offers ultra-long-range performance and laser targeting capabilities for surface/subsurface warfare and search &amp; rescue missions
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated, has announced that it is delivering its Star SAFIRE&reg; 380-HLD multi-spectral imaging systems to the Japan Maritime Self-Defense Force (JMSDF) as part of an agreement worth up to&nbsp;$20.8 million.

Reported Sunday, Teledyne FLIR Secures ~$21M Contract To Deliver Advanced Surveillance Systems To Japan Maritime Self-Defense Force

The selectees are:
<ul>
<li>BlackSky Geospatial Solutions, Inc. in Herndon, Virginia</li>
<li>ICEYE US Inc. in Irvine, California</li>
<li>MDA Geospatial Service Inc. in Richmond, British Columbia, Canada</li>
<li>Pixxel Space Technologies, Inc in El Segundo, California</li>
<li>Planet Labs Federal, Inc. in Arlington, Virginia</li>
<li>Satellogic Federal, LLC in Davidson, North Carolina</li>
<li>Teledyne Brown Engineering, Inc. in Huntsville, Alabama</li>
<li>The Tomorrow Companies Inc. in Boston</li>
</ul>

BlackSky Technology Inc. Class A Common Stock

BKSY

SATL

NASA Says The Commercial SmallSat Data Acquisition Program On-ramp1 Multiple Award Contract Is A Firm-Fixed-Price Indefinite-Delivery/Indefinite-Quantity Multiple-Award Contract With A Maximum Value Of $476M, Cumulatively Amongst All The Selected Contractors, And A Performance Period Through Nov. 15, 2028.

<a href="https://www.nasa.gov/news-release/nasa-selects-companies-for-commercial-smallsat-services-award/">https://www.nasa.gov/news-release/nasa-selects-companies-for-commercial-smallsat-services-award/</a>
&nbsp;
NASA has selected eight companies for a new award to help acquire Earth observation data and provide related services for the agency.
The Commercial SmallSat Data Acquisition Program On-Ramp1 Multiple Award contract is a firm-fixed-price indefinite-delivery/indefinite-quantity multiple-award contract with a maximum value of $476 million, cumulatively amongst all the selected contractors, and a performance period through Nov. 15, 2028.
The selectees are:
<ul>
<li>BlackSky Geospatial Solutions, Inc. in Herndon, Virginia</li>
<li>ICEYE US Inc. in Irvine, California</li>
<li>MDA Geospatial Service Inc. in Richmond, British Columbia, Canada</li>
<li>Pixxel Space Technologies, Inc in El Segundo, California</li>
<li>Planet Labs Federal, Inc. in Arlington, Virginia</li>
<li>Satellogic Federal, LLC in Davidson, North Carolina</li>
<li>Teledyne Brown Engineering, Inc. in Huntsville, Alabama</li>
<li>The Tomorrow Companies Inc. in Boston</li>
</ul>
Under the contract, the recipients will be responsible for acquiring observation data from commercial sources that support NASA's Earth science research and application activities that help improve life on the planet. The goal of the awards is to give NASA a cost-effective way to augment or complement the Earth observations acquired by the agency and other U.S. government and international agencies for the benefit of all.
For information about NASA and agency programs, visit:
<a href="https://www.nasa.gov/">https://www.nasa.gov</a>

'NASA Selects Companies For Commercial SmallSat Services Award' - NASA

Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) has outperformed the market over the past 20 years by 6.84% on an annualized basis producing an average annual return of 15.19%. Currently, Teledyne Technologies has a market capitalization of $19.77 billion. 
Buying $1000 In TDY: If an investor had bought $1000 of TDY stock 20 years ago, it would be worth $17,159.08 today based on a price of $422.52 for TDY at the time of writing.
<h3>Teledyne Technologies's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724689811_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Teledyne Technologies 20 Years Ago Would Be Worth This Much Today

Teledyne Brown Engineering, a subsidiary of Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>), proudly announces the award of a $114 million Task Order under the Design, Development, Demonstration, and Integration (D3I) Domain 1 contract by the U.S. Army Space and Missile Defense Command.
Under this contract, Teledyne Brown Engineering will spearhead the design, build, and launch of realistic-threat ballistic target missiles, crucial for use in testing advanced missile defense systems. The Tactical Range Air Defense Missile (TACRAM) 2, a follow-on contract, will extend through March 2028, continuing the company's work under previous contract, providing target missiles since 2014.

Teledyne Brown Engineering Secures $114M Contract To Enhance Missile Defense Systems From The U.S. Army Space And Missile Defense Command

Teledyne Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) short percent of float has fallen 8.81% since its last report. The company recently reported that it has 519 thousand shares sold short, which is 1.45% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.48 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Teledyne Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723813223_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Teledyne Technologies has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Teledyne Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Teledyne Technologies's peer group average for short interest as a percentage of float is 6.57%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(TDY) - Analyzing Teledyne Technologies's Short Interest

Needham analyst James Ricchiuti maintains Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) with a Buy and raises the price target from $455 to $482.

Price Target

Needham Maintains Buy on Teledyne Technologies, Raises Price Target to $482

Teledyne Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdy#NYSE">TDY</a>) came out with quarterly earnings of $4.58 per share, beating the Zacks Consensus Estimate of $4.49 per share. This compares to earnings of $4.67 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 2%. A quarter ago, it was expected that this defense and aerospace industry supplier would post earnings of $4.64 per share when it actually produced earnings of $4.55, delivering a surprise of -1.94%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Teledyne, which belongs to the Zacks Aerospace - Defense Equipment industry, posted revenues of $1.37 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.18%. This compares to year-ago revenues of $1.42 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Teledyne shares have lost about 9.9% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for Teledyne?
While Teledyne has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Teledyne: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $5.07 on $1.43 billion in revenues for the coming quarter and $19.34 on $5.64 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense Equipment is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Spirit Aerosystems (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spr#NYSE">SPR</a>), another stock in the same industry, has yet to report results for the quarter ended June 2024. The results are expected to be released on August 5.
This aircraft parts maker is expected to post quarterly loss of $0.98 per share in its upcoming report, which represents a year-over-year change of +32.9%. The consensus EPS estimate for the quarter has been revised 146% lower over the last 30 days to the current level.
Spirit Aerosystems&#39; revenues are expected to be $1.53 billion, up 12.2% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307534/teledyne-technologies-tdy-surpasses-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307534">To read this article on Zacks.com click here.</a>

Earnings Beats

Teledyne Technologies Surpasses Q2 Earnings Estimates

Guidance

Teledyne Technologies Expects Q3 Adjusted EPS Of $4.90-$5.00 Vs. $5 Estimate; Company Sees FY24 Adjusted EPS $19.25 To $19.45 Vs. $19.38 Estimate

Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) reported quarterly earnings of $4.58 per share which beat the analyst consensus estimate of $4.49 by 2 percent. This is a 1.93 percent decrease over earnings of $4.67 per share from the same period last year. The company reported quarterly sales of $1.37 billion which beat the analyst consensus estimate of $1.36 billion by 1.03 percent. This is a 3.58 percent decrease over sales of $1.43 billion the same period last year.

Teledyne Technologies Q2 Adj $4.58 Beats $4.49 Estimate, Sales $1.37B Beat $1.36B Estimate

Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>), today unveiled its UltraFORCE&reg; 380-HDc imaging system at the Farnborough International Air Show. The new long-range airborne surveillance solution is not subject to International Traffic in Arms Regulations (ITAR), easing shipment and freedom of movement to customers outside the United States.

New Teledyne FLIR Imaging System Enhances Global Surveillance with Easier Exportation

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) in the last three months.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Teledyne Technologies, revealing an average target of $443.75, a high estimate of $470.00, and a low estimate of $400.00. A 9.75% drop is evident in the current average compared to the previous average price target of $491.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1721754128_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Teledyne Technologies. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kevin McCarthy</td>
<td>Vertical Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$470.00</td>
<td>-</td>
</tr>
<tr>
<td>Ronald Epstein</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$400.00</td>
<td>$490.00</td>
</tr>
<tr>
<td>Joseph Giordano</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$450.00</td>
<td>$475.00</td>
</tr>
<tr>
<td>James Ricchiuti</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$455.00</td>
<td>$510.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Teledyne Technologies. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Teledyne Technologies compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Teledyne Technologies's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Teledyne Technologies's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/TDY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Teledyne Technologies analyst ratings.</a>
<h2>Delving into Teledyne Technologies's Background</h2>
Teledyne Technologies Inc sells technologies for industrial markets. Roughly a fourth of Teledyne's revenue comes from contracts with the United States government. The firm operates in four segments: instrumentation, digital imaging, aerospace and defense electronics, and engineered systems. The instrumentation segment provides monitoring instruments primarily for marine and environmental applications. The digital imaging segment contributes the largest proportion of revenue and includes image sensors and cameras for industrial, government, and medical customers. The aerospace and defense electronics segment provides electronic components and communication products for aircraft. The engineered systems segment provides solutions for defense, space, environmental, and energy applications.
<h3>A Deep Dive into Teledyne Technologies's Financials</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Negative Revenue Trend: Examining Teledyne Technologies's financials over 3 months reveals challenges. As of 31 March, 2024, the company experienced a decline of approximately -2.4% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Teledyne Technologies's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 13.22%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Teledyne Technologies's ROE stands out, surpassing industry averages. With an impressive ROE of 1.92%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.22%, the company showcases effective utilization of assets.
Debt Management: Teledyne Technologies's debt-to-equity ratio is below the industry average at 0.35, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cracking The Code: Understanding Analyst Reviews For Teledyne Technologies

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Teledyne Q3 2024 Earnings Preview

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Press Releases

Teledyne Brown Engineering Secures $114 Million Contract to Enhance Missile Defense Systems

Teledyne FLIR Delivering Airborne Surveillance Systems to Japan Maritime Self-Defense Force Worth Up to $21 Million

Ethernet Innovation Drives Ethernet Alliance's ECOC 2024 Demo

General

Teledyne unveils the first 16k TDI line scan camera with a 1-Megahertz line rate

Teledyne FLIR Defense Captures Contracts Worth Up to $47M to Provide Wide Range of Ground Robots to US Government

Teledyne introduces next generation AI-powered smart camera for industrial automation and inspection

Teledyne Announces Third Quarter 2024 Earnings Webcast Details

Teledyne FLIR Defense Unveils Cerberus XL C-UAS Mobile Counter-Drone System at AUSA 2024

Teledyne's Detector Enables NASA's Europa Clipper MISE Instrument

Teledyne FLIR Defense Wins $91 Million Contract from U.S. Army for Black Hornet 4 Nano-Drones

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