Allspring Global Investments Holdings LLC Has $135.47 Million Position in Teledyne Technologies Incorporated $TDY

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Teledyne Technologies by 19.1% during the second quarter, owning approximately 0.57% of the company worth $135.47 million after selling 62,547 shares.
• Teledyne Technologies announced a $2 billion stock buyback plan, equating to about 7.7% of its outstanding shares, suggesting that the board believes the stock is undervalued.
• The company reported a quarterly earnings per share of $5.20, surpassing analyst expectations, and set its FY 2025 guidance in the range of 21.200-21.500 EPS.

Allspring Global Investments Holdings LLC cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 19.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 264,807 shares of the scientific and technical instruments company's stock after selling 62,547 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.57% of Teledyne Technologies worth $135,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDY. GAMMA Investing LLC increased its stake in shares of Teledyne Technologies by 24.6% in the first quarter. GAMMA Investing LLC now owns 998 shares of the scientific and technical instruments company's stock valued at $497,000 after buying an additional 197 shares in the last quarter. CX Institutional acquired a new stake in shares of Teledyne Technologies in the first quarter valued at $230,000. Elevation Point Wealth Partners LLC increased its stake in shares of Teledyne Technologies by 13.4% in the first quarter. Elevation Point Wealth Partners LLC now owns 1,752 shares of the scientific and technical instruments company's stock valued at $872,000 after buying an additional 207 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Teledyne Technologies by 11.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,040 shares of the scientific and technical instruments company's stock valued at $1,015,000 after buying an additional 205 shares in the last quarter. Finally, Sagespring Wealth Partners LLC increased its stake in shares of Teledyne Technologies by 3.9% in 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 buying an additional 25 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction dated 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 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 document filed with the SEC, which is available at this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies 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 owned 61,913 shares in the company, valued at $34,029,861.32. This trade represents a 9.25% 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 worth $8,315,662. Insiders own 1.50% of the company's stock.

Teledyne Technologies Price Performance

Shares of TDY opened at $567.27 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. Teledyne Technologies Incorporated has a 1 year low of $419.00 and a 1 year high of $595.99. The stock has a market cap of $26.60 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.63 and a beta of 1.11. The stock's 50-day moving average price is $556.50 and its two-hundred day moving average price is $517.44.

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 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 analysts' expectations of $1.47 billion. During the same quarter last year, the business earned $4.58 earnings per share. The company's revenue was up 10.2% compared to the same quarter last year. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. On average, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TDY shares. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price for the company. UBS Group lifted their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Teledyne Technologies in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Barclays assumed coverage on Teledyne Technologies in a research report on Wednesday, October 8th. They issued an "equal weight" rating and a $606.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $580.25.

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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