1,497 Shares in Teledyne Technologies Incorporated (NYSE:TDY) Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP purchased 1,497 shares of Teledyne Technologies, valued at approximately $745,000, during the 1st quarter of the year.
• Analysts have raised price targets for Teledyne Technologies, with UBS Group increasing their target from $585.00 to $630.00, maintaining a "buy" rating.
• Teledyne Technologies announced a $2.00 billion stock buyback program, allowing the company to repurchase up to 7.7% of its shares, suggesting management believes its stock is undervalued.

Entropy Technologies LP bought a new position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,497 shares of the scientific and technical instruments company's stock, valued at approximately $745,000.

Several other institutional investors have also recently bought and sold shares of TDY. GAMMA Investing LLC raised its holdings in Teledyne Technologies by 61,911.9% in the 1st quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock worth $247,220,000 after acquiring an additional 495,914 shares during the period. Alyeska Investment Group L.P. raised its holdings in Teledyne Technologies by 19,605.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company's stock worth $169,469,000 after acquiring an additional 363,280 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Teledyne Technologies during the 4th quarter worth about $143,524,000. Pacer Advisors Inc. increased its holdings in shares of Teledyne Technologies by 3,319.3% during the 1st quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock worth $90,385,000 after purchasing an additional 176,290 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Teledyne Technologies during the 4th quarter worth about $61,939,000. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

TDY has been the topic of several research reports. UBS Group boosted their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective on the stock. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. TD Securities restated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. Finally, Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $552.63 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66. The firm's 50-day simple moving average is $524.18 and its 200-day simple moving average is $500.52. Teledyne Technologies Incorporated has a twelve month low of $406.36 and a twelve month high of $570.56. The firm has a market cap of $25.91 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $4.58 EPS. The firm's revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies announced that its board has authorized a stock buyback program on Wednesday, July 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the transaction, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the sale, the director directly owned 51,328 shares in the company, valued at $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,021 shares of company stock worth $8,315,662. Corporate insiders own 1.50% of the company's stock.

Teledyne Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.