Alliancebernstein L.P. Sells 8,941 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Alliancebernstein L.P. reduced its stake in Teledyne Technologies by 14.1%, selling 8,941 shares and now owning 54,639 shares valued at approximately $27.19 million.
• Teledyne Technologies reported a quarterly EPS of $5.20, exceeding analyst expectations and showing a 10.2% year-over-year revenue increase to $1.51 billion.
• The company's Board of Directors authorized a $2.00 billion stock buyback plan, indicating confidence in the undervaluation of the stock.

Alliancebernstein L.P. reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 14.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,639 shares of the scientific and technical instruments company's stock after selling 8,941 shares during the period. Alliancebernstein L.P. owned 0.12% of Teledyne Technologies worth $27,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Tidal Investments LLC lifted its stake in Teledyne Technologies by 0.4% in the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock valued at $2,556,000 after buying an additional 22 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 valued at $3,254,000 after acquiring an additional 23 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Teledyne Technologies by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 947 shares of the scientific and technical instruments company's stock valued at $471,000 after acquiring an additional 24 shares during the period. HighPoint Advisor Group LLC boosted its stake in Teledyne Technologies by 3.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 776 shares of the scientific and technical instruments company's stock worth $359,000 after acquiring an additional 24 shares during the last quarter. Finally, Sagespring Wealth Partners LLC grew its holdings in Teledyne Technologies by 3.9% during the first quarter. Sagespring Wealth Partners LLC now owns 663 shares of the scientific and technical instruments company's stock valued at $330,000 after purchasing an additional 25 shares during the period. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

TDY opened at $544.72 on Wednesday. The company has a market capitalization of $25.54 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.54 and a beta of 1.09. The business's 50-day moving average price is $542.31 and its two-hundred day moving average price is $505.70. Teledyne Technologies Incorporated has a 1 year low of $416.00 and a 1 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.

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 earnings per share (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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $4.58 earnings per share. Teledyne Technologies's quarterly 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. Equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. Morgan Stanley raised their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, UBS Group boosted their target price on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $576.57.

Insider Transactions at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies 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 sale, the chief executive officer directly owned 10,391 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the stock in a transaction on 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 transaction, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. The trade was a 3.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock valued at $8,315,662 in the last ninety days. 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.

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