Aberdeen Group plc Increases Stock Position in Teledyne Technologies Incorporated $TDY

Key Points

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Aberdeen Group plc raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 141.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,212 shares of the scientific and technical instruments company's stock after acquiring an additional 22,987 shares during the quarter. Aberdeen Group plc owned approximately 0.08% of Teledyne Technologies worth $19,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TDY. Tidal Investments LLC raised its position in Teledyne Technologies by 0.4% during the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock worth $2,556,000 after acquiring an additional 22 shares during the period. Keel Point LLC raised its position in shares of Teledyne Technologies by 4.5% during the 4th quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company's stock worth $247,000 after purchasing an additional 23 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Teledyne Technologies by 0.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,538 shares of the scientific and technical instruments company's stock worth $3,254,000 after buying an additional 23 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Teledyne Technologies by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 947 shares of the scientific and technical instruments company's stock worth $471,000 after buying an additional 24 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in shares of Teledyne Technologies by 3.2% during the first quarter. HighPoint Advisor Group LLC now owns 776 shares of the scientific and technical instruments company's stock valued at $359,000 after acquiring an additional 24 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TDY. Stifel Nicolaus assumed coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective on the stock. TD Securities reiterated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC decreased their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley upped their price target on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Teledyne Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $576.57.

Teledyne Technologies Trading Up 1.6%

NYSE TDY traded up $8.80 during trading hours on Friday, reaching $551.24. The company had a trading volume of 91,415 shares, compared to its average volume of 326,992. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $25.85 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The stock has a 50-day moving average of $530.09 and a 200 day moving average of $502.09. Teledyne Technologies Incorporated has a 1-year low of $416.00 and a 1-year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $4.58 EPS. The business's revenue was up 10.2% on a year-over-year basis. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its board has authorized a share repurchase program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to buy 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 shares are undervalued.

Insider Transactions at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value of $3,740,686.35. Following the completion of the transaction, the chief executive officer owned 10,391 shares of the company's stock, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. This trade represents a 3.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is currently owned by corporate insiders.

Teledyne Technologies 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.