AE Wealth Management LLC Purchases New Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Key Points

• AE Wealth Management LLC has acquired a new stake in Teledyne Technologies, purchasing 471 shares valued at approximately $234,000.
• Wall Street analysts maintain a positive outlook, with several firms raising their price targets, including UBS Group, which increased its target from $585.00 to $630.00.
• Teledyne Technologies has authorized a $2.00 billion share repurchase program, indicating confidence in the company's value and plans to buy back up to 7.7% of its stock.

AE Wealth Management LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 471 shares of the scientific and technical instruments company's stock, valued at approximately $234,000.

Several other large investors have also recently bought and sold shares of TDY. Teacher Retirement System of Texas acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $203,000. American Century Companies Inc. lifted its position in shares of Teledyne Technologies by 1.0% in the fourth quarter. American Century Companies Inc. now owns 3,195 shares of the scientific and technical instruments company's stock valued at $1,483,000 after buying an additional 32 shares during the last quarter. LPL Financial LLC lifted its position in shares of Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock valued at $13,166,000 after buying an additional 2,224 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Teledyne Technologies by 118.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,559 shares of the scientific and technical instruments company's stock valued at $724,000 after buying an additional 845 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Teledyne Technologies by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 7,725 shares of the scientific and technical instruments company's stock valued at $3,585,000 after buying an additional 424 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Needham & Company LLC cut their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Securities reissued a "buy" rating and set a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. Morgan Stanley lifted their price target on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus began coverage on Teledyne Technologies in a report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Insiders Place Their Bets

In other news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the transaction, the chief executive officer owned 10,391 shares in the company, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction on Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock worth $8,315,662 in the last 90 days. Company insiders own 1.50% of the company's stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $550.96 on Friday. The stock's fifty day moving average price is $515.43 and its two-hundred day moving average price is $496.97. Teledyne Technologies Incorporated has a one year low of $397.78 and a one year high of $570.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. The firm has a market cap of $25.83 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company earned $4.58 EPS. The company'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 of Directors has authorized a share repurchase program on Wednesday, July 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

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.

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