Loading...
Docoh

Teledyne (TDY)

Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne's operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.

Company profile

Ticker
TDY
Exchange
CEO
Aldo Pichelli
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
DVTEL India Private Limited • DVTEL Israel Ltd. • DVTEL Mexico • Ensambles de Precision S.A. de C.V. • FLIR Belgium BV • FLIR Commercial Systems AB • FLIR Commercial Systems LLC • FLIR Commercial Systems Mexico, S.A. de C.V. • FLIR Integrated Imaging Solutions GmbH • FLIR Integrated Imaging Solutions, Co., Ltd. ...
IRS number
251843385

TDY stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$458.50
Low target
$445.00
High target
$472.00
Morgan Stanley
Maintains
Underweight
$445.00
16 Aug 22
Needham
Maintains
Buy
$472.00
28 Jul 22

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

1 Aug 22
1 Oct 22
1 Jan 23
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 278.8M 278.8M 278.8M 278.8M 278.8M 278.8M
Cash burn (monthly) 1.83M 34.69M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 5.41M 102.35M n/a n/a n/a n/a
Cash remaining 273.39M 176.45M n/a n/a n/a n/a
Runway (months of cash) 149.1 5.1 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 22 VanWees Jason Common Stock Option exercise Acquire M No No 78.4 1,000 78.4K 47,282.417
14 Jun 22 VanWees Jason Stock Option right-to-buy Common Stock Option exercise Dispose M No No 78.4 1,000 78.4K 5,400
12 May 22 VanWees Jason Common Stock Option exercise Acquire M No No 78.4 1,000 78.4K 46,282.417
12 May 22 VanWees Jason Stock Option right-to-buy Common Stock Option exercise Dispose M No No 78.4 1,000 78.4K 6,400
6 May 22 VanWees Jason Common Stock Option exercise Acquire M No No 78.4 1,500 117.6K 45,282.417
6 May 22 VanWees Jason Stock Option right-to-buy Common Stock Option exercise Dispose M No No 78.4 1,500 117.6K 7,400
27 Apr 22 Crocker Charles Common Stock Grant Acquire A No No 0 376 0 45,513
27 Apr 22 Cade Denise R Common Stock Grant Acquire A No No 0 376 0 1,212
47.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 575 607 -5.3%
Opened positions 60 74 -18.9%
Closed positions 92 65 +41.5%
Increased positions 216 203 +6.4%
Reduced positions 206 227 -9.3%
13F shares Current Prev Q Change
Total value 15.7B 19.53B -19.6%
Total shares 41.86M 41.39M +1.1%
Total puts 53.96K 37.1K +45.4%
Total calls 36.86K 38.15K -3.4%
Total put/call ratio 1.5 1.0 +50.5%
Largest owners Shares Value Change
TROW T. Rowe Price 6.31M $2.37B +1.5%
Vanguard 5.18M $1.94B +1.5%
BLK Blackrock 3.5M $1.31B -12.2%
Select Equity 2.38M $892.97M -4.2%
STT State Street 1.82M $684.32M -1.3%
FMR 1.59M $597.33M +30.7%
JHG Janus Henderson 1.5M $562.27M -6.0%
Kayne Anderson Rudnick Investment Management 1.24M $466.36M +9.2%
IVZ Invesco 1.08M $404.49M +6.0%
Geode Capital Management 898.33K $336.34M +1.9%
Largest transactions Shares Bought/sold Change
BLK Blackrock 3.5M -484.02K -12.2%
FMR 1.59M +374.38K +30.7%
Assenagon Asset Management 267.58K +233.55K +686.2%
Durable Capital Partners 478.68K +181.76K +61.2%
JPM JPMorgan Chase & Co. 236.02K +180.88K +328.0%
Point72 Asset Management 213.66K +159.26K +292.8%
Parametric Portfolio Associates 0 -141.25K EXIT
Artisan Partners Limited Partnership 615.94K -137.46K -18.2%
MS Morgan Stanley 225.97K +124.02K +121.6%
Balyasny Asset Management 115.28K +115.28K NEW

Financial report summary

?
Competition
Giga TronicsEltekElbit SystemsCoda OctopusMirion
Risks
  • We may not be able to service our debt obligations.
  • The credit rating of Teledyne could be downgraded, which may increase borrowing costs.
  • We are experiencing component and raw material shortages due to worldwide supply chain constraints which impacts our ability to manufacture and ship all of the product for which we have demand.
  • Increased prices for components and raw materials used in our products and higher labor and shipping costs could adversely impact our profitability.
  • Our inability to attract and retain key personnel and labor shortages resulting from the COVID pandemic and improving economic conditions, could have a material adverse effect on our future success.
  • Recession, financial and credit market disruptions, or an economic slowdown in China, may adversely affect us.
  • We are subject to the risks associated with international sales and international operations, and events in those countries could harm our business or results of operations.
  • We generate revenue from companies in the oil and gas industry, especially the offshore oil and gas industry, a historically cyclical industry with levels of activity that are significantly affected by the levels and volatility of oil and gas prices.
  • Higher tax rates may harm our results of operations and cash flow.
  • Changes in future business conditions could cause business investments, goodwill and other long-lived assets to become impaired, resulting in significant losses and write-downs that would reduce our operating income.
  • Our revenue from U.S. Government contracts depends on the continued availability of funding from the U.S. Government, and, accordingly, we have the risk that funding for our existing contracts may be canceled or diverted to other uses or delayed or that funding for new programs will not be available.
  • Our U.S. Government contracting business is subject to government contracting regulations, including increasingly complex regulations on cybersecurity, and our failure to comply with such laws and regulations could harm our operating results and prospects.
  • We may not have sufficient resources to fund all future research and development and capital expenditures or possible acquisitions.
  • We may be unable to successfully introduce new and enhanced products in a timely and cost-effective manner or increase our participation in new markets, which could harm our profitability and prospects.
  • We may not be able to reduce the costs of our products to satisfy customers’ cost reduction mandates, which could harm our sales or margins.
  • The airline industry is heavily regulated, and if we fail to comply with applicable requirements, our results of operations could suffer.
  • Increasing competition could reduce the demand for our products and services.
  • Product liability claims, product recalls and field service actions could have a material adverse effect on our reputation, business, results of operations and financial condition and we may have difficulty obtaining product liability and other insurance coverage.
  • Our business and financial results could be adversely affected by conditions and other factors associated with our suppliers, and subcontractors.
  • We face risks related to sales through distributors and other third parties which could harm our business.
  • Failing to comply with increasing environmental regulations, as well as the effects of potential environmental liabilities, could have a material adverse financial effect on us.
  • We may not be able to sell or reconfigure businesses, facilities or product lines that we determine no longer meet with our growth strategy or that should be consolidated.
  • Regulations associated with climate change could adversely affect our business.
  • Natural and man-made disasters could adversely affect our business, results of operations and financial condition.
  • We may not be able to enforce or protect our intellectual property rights, or third parties may claim we infringe their intellectual rights, each which may harm our ability to compete and thus harm our business.
  • Our business and operations could suffer in the event of cybersecurity breaches.
  • Provisions of our governing documents, applicable law, and our Change in Control Severance Agreements could make an acquisition of Teledyne more difficult.
  • Our Amended and Restated Bylaws (“Bylaws”) designate the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain lawsuits between us and our stockholders, which could limit our stockholders’ ability to obtain a judicial forum that it finds favorable for such lawsuits and make it more costly for our stockholders to bring such lawsuits, which may have the effect of discouraging such lawsuits.
  • An investment in Teledyne’s Common Stock and other securities involve risks, many of which are beyond our control.
Management Discussion
  • Our Instrumentation segment net sales for 2021 increased 6.6%, compared with 2020. Operating income for 2021 increased 19.0%, compared with 2020.
  • The 2021 net sales increase primarily resulted from higher sales of test and measurement instrumentation and environmental instrumentation, partially offset by lower sales of marine instrumentation. Sales of test and measurement instrumentation and environmental instrumentation increased $39.6 million and $35.0 million, respectively. Sales of marine instrumentation decreased $2.2 million. The increase in operating income in 2021 reflected the impact of higher sales and improved margins across most product categories resulting from ongoing margin improvement initiatives.
  • Cost of sales increased by $14.4 million in 2021, compared with 2020, and primarily reflected the impact of higher net sales. The cost of sales percentage decreased to 53.0% in 2021 from 55.1% in 2020. Selling, general and administrative expenses, including research and development expense, in 2021, increased by $17.2 million, compared with 2020, and reflected the impact of higher net sales, $6.0 million in higher research and development expense, partially offset by $4.6 million in lower severance and facility consolidation expense. Selling, general and administrative expenses for 2021, as a percentage of sales, remained at 23.6%.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: adjudication, Agency, backlog, cancelling, challenge, CRA, declined, delayed, driven, Finland, gain, Helsinki, maintenance, midway, NL, notified, Oy, repurchased, shortly, SOFR, standby, stronger, sustained, temporary
Removed: approximated, base, begun, degree, detect, diversified, enhance, exceed, finalize, healthcare, human, immune, improvement, infrastructure, initial, insufficient, integrating, interact, largest, LIBOR, people, perception, portfolio, preliminary, public, Rule, serve, serving, slightly, system, understanding, wastewater

Patents

Utility
Object Tracking In Local and Global Maps Systems and Methods
29 Sep 22
A detection device, such as an unmanned vehicle, is adapted to traverse a search area and generate sensor data associated with objects that may be present in the search area.
Utility
Method for Synchronising Analogue Data at the Output of a Plurality of Digital/analogue Converters
22 Sep 22
A method for synchronizing analog data (Data_ana1, Data_ana2) at the output of a plurality of digital/analog converters (DAC), comprising at least one conversion core (C1, C2), on an active edge of a common reference clock (Clk), the method comprising the following steps: a) supplying an external synchronization signal (SYNC_ext), to at least one converter, and supplying a signal of the common reference clock to the plurality of converters; b) generating, within each converter, an internal synchronization signal (SYNC_int), such that all the internal synchronization signals are aligned on an active edge of the common reference clock; c) for each of the converters, generating a start signal (START1, START2) which represents the start of the sending of digital data and counting a number of clock strokes until the internal synchronization signal is generated, and; d) applying a delay Ri (R1, R2) to each converter core, the delay being equal to the difference between the highest number counted in step c) and the number counted for the core.
Utility
Compositions and methods for detoxifying chemical warfare agents
6 Sep 22
Doped metal oxide compositions are provided that consist essentially of: fluoride; alumina; and less than 10% H2O.
Utility
Latched optical feedthrough system for subsea wellhead penetration using spherical seals
6 Sep 22
A connector assembly includes a first and a second releasable and mateable connector.
Design
Sensor device
30 Aug 22
Inventors: Ali Sarsak, Zhenmei Mao, Matthew Szabo