Teledyne Technologies Incorporated $TDY Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its position in Teledyne Technologies by 25.2%, selling 11,475 shares, and now owns 34,067 shares valued at approximately $16.96 million.
• Teledyne recently announced a stock buyback plan authorizing the repurchase of $2 billion in shares, indicating company leadership's belief in the stock's undervaluation.
• Analysts have a consensus rating of “Moderate Buy” for Teledyne Technologies, with target prices ranging from $576.57 to $630.00, reflecting expected growth in the upcoming quarters.

Adage Capital Partners GP L.L.C. lowered its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 25.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,067 shares of the scientific and technical instruments company's stock after selling 11,475 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Teledyne Technologies worth $16,955,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TDY. GAMMA Investing LLC increased its position in Teledyne Technologies by 61,911.9% during 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 purchasing an additional 495,914 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Teledyne Technologies in the 4th quarter valued at approximately $143,524,000. Pacer Advisors Inc. increased its position in Teledyne Technologies by 3,319.3% in the 1st quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock valued at $90,385,000 after acquiring an additional 176,290 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Teledyne Technologies by 10.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock valued at $726,369,000 after acquiring an additional 143,062 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Teledyne Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock valued at $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Trading Down 0.1%

Shares of NYSE TDY traded down $0.64 during midday trading on Wednesday, hitting $544.12. 109,919 shares of the company traded hands, compared to its average volume of 320,314. Teledyne Technologies Incorporated has a 12-month low of $416.00 and a 12-month high of $570.56. 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 stock has a 50-day moving average price of $542.31 and a 200 day moving average price of $505.70. The firm has a market cap of $25.51 billion, a P/E ratio of 29.96, a P/E/G ratio of 2.54 and a beta of 1.09.

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 (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.58 earnings per share. 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, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a share repurchase program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

TDY has been the subject of several research reports. Morgan Stanley raised their target price on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Stifel Nicolaus started coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Finally, UBS Group raised their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

Insider Activity at Teledyne Technologies

In related news, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the completion of the transaction, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. The trade was a 39.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction on 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 owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. The trade was a 9.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is owned by company insiders.

About Teledyne Technologies

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.