Amundi Has $84.59 Million Position in Teledyne Technologies Incorporated $TDY

Key Points

• Amundi increased its stake in Teledyne Technologies by 43.6% in the 1st quarter, owning a total of 179,377 shares valued at approximately $84.6 million.
• Teledyne Technologies declared a new $2 billion stock buyback plan, allowing the company to repurchase up to 7.7% of its outstanding shares, which indicates a belief in the stock's undervaluation.
• Despite insider sales, analysts remain positive, with UBS raising the target price for Teledyne Technologies shares from $585 to $630 and maintaining a "buy" rating.

Amundi increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 43.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 179,377 shares of the scientific and technical instruments company's stock after acquiring an additional 54,503 shares during the period. Amundi owned 0.38% of Teledyne Technologies worth $84,594,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Teledyne Technologies by 1.9% during 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 acquiring an additional 105,811 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Teledyne Technologies by 0.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after acquiring an additional 13,607 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Teledyne Technologies by 10.9% during 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 last quarter. JPMorgan Chase & Co. boosted its stake in Teledyne Technologies by 7.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,102,795 shares of the scientific and technical instruments company's stock valued at $548,872,000 after purchasing an additional 73,009 shares during the period. Finally, Northern Trust Corp boosted its stake in Teledyne Technologies by 0.5% during the 1st quarter. Northern Trust Corp now owns 539,364 shares of the scientific and technical instruments company's stock valued at $268,447,000 after purchasing an additional 2,490 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction dated 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 sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $3,468,778.04. Following the sale, the director owned 61,913 shares in the company, valued at approximately $34,029,861.32. This trade represents a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TDY. UBS Group increased 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. Stifel Nicolaus began coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Finally, Morgan Stanley increased 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. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Teledyne Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $576.57.

Teledyne Technologies Stock Performance

Shares of TDY stock traded up $0.80 during mid-day trading on Wednesday, reaching $545.56. The stock had a trading volume of 221,584 shares, compared to its average volume of 321,013. The firm's 50 day simple moving average is $542.31 and its 200 day simple moving average is $505.70. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Teledyne Technologies Incorporated has a one year low of $416.00 and a one year high of $570.56. The firm has a market cap of $25.58 billion, a PE ratio of 30.04, a P/E/G ratio of 2.54 and a beta of 1.09.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced 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 company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company earned $4.58 EPS. The company'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. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its board has authorized a stock repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management 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.