Last Updated: 09 Nov 2024
Executive Summary
Teledyne Technologies Incorporated (TDY) is a leading industrial conglomerate with a strong track record of growth and profitability. The company's diverse portfolio of businesses provides exposure to a wide range of end markets, including aerospace, defense, industrial, and healthcare. TDY's financial performance has been solid in recent quarters, with revenue and earnings growth driven by strong demand for its products and services. The company's valuation metrics are attractive relative to its peers, and analysts are generally positive on the stock's prospects.
Company Overview
Teledyne Technologies is a global provider of engineered systems, instruments, and components for a wide range of industries. The company's products are used in a variety of applications, including aerospace, defense, industrial, and healthcare. TDY operates through four segments: Electronic Technologies, Digital Imaging, Engineered Systems, and Healthcare.
The Electronic Technologies segment designs and manufactures sensors, detectors, and other electronic components used in a variety of applications, including aerospace, defense, and industrial. The Digital Imaging segment develops and manufactures digital imaging systems and components used in a variety of applications, including medical imaging, industrial inspection, and defense. The Engineered Systems segment designs and manufactures engineered systems and components used in a variety of applications, including aerospace, defense, and industrial. The Healthcare segment develops and manufactures medical devices and components used in a variety of applications, including surgery, imaging, and diagnostics.
Fundamental Analysis
TDY's financial performance has been solid in recent quarters. In the most recent quarter, the company reported revenue of $5592.7 million, up 2.9% year-over-year. Net income was $205.0 million, up 33.5% year-over-year. Diluted EPS was $20.21, up 33.5% year-over-year.
TDY's financial performance has been driven by strong demand for its products and services. The company's backlog has grown steadily in recent quarters, and its margins have expanded. TDY's balance sheet is also strong, with the company having a low level of debt and a high level of cash and equivalents.
TDY's valuation metrics are attractive relative to its peers. The company's trailing PE ratio of 24.21 is below the industry average of 27.58. TDY's forward PE ratio of 19.05 is also below the industry average of 21.15.
Technical Analysis
TDY's stock price has been trading in a range between $355.41 and $492 over the past 52 weeks. The stock is currently trading at $489.24, near the top of its recent range.
TDY's technical indicators are mixed. The stock's relative strength index (RSI) is above 70, indicating that the stock is overbought. However, the stock's moving average convergence divergence (MACD) is above its signal line, indicating that the stock is in a bullish trend.
Short Term Outlook
TDY's stock price is likely to continue to trade in a range in the near term. The stock's technical indicators are mixed, and the company's valuation metrics are attractive relative to its peers. However, the stock's RSI is above 70, indicating that the stock is overbought.
Long Term Outlook
TDY's long-term outlook is positive. The company has a strong track record of growth and profitability, and its diverse portfolio of businesses provides exposure to a wide range of end markets. TDY's valuation metrics are attractive relative to its peers, and analysts are generally positive on the stock's prospects.
Analyst Recommendations
Analysts are generally positive on TDY's stock. The consensus analyst rating is "Buy," with a price target of $513.84. One analyst has a "Strong Buy" rating on the stock, seven analysts have a "Buy" rating, three analysts have a "Hold" rating, and no analysts have a "Sell" or "Strong Sell" rating.
