APG Asset Management N.V. Sells 647 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• APG Asset Management N.V. decreased its holdings in Teledyne Technologies by 2.4%, selling 647 shares to end the quarter with 26,663 shares worth approximately $12.28 million.
• Teledyne Technologies announced a $2 billion stock repurchase plan, which represents potential buybacks of up to 7.7% of its shares, indicating the board believes the stock is undervalued.
• The company's recent earnings report showed revenues of $1.51 billion, exceeding expectations, with earnings per share of $5.20, up from $4.58 a year earlier.

APG Asset Management N.V. lowered its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 26,663 shares of the scientific and technical instruments company's stock after selling 647 shares during the period. APG Asset Management N.V. owned 0.06% of Teledyne Technologies worth $12,285,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Maren Capital LLC grew its holdings in Teledyne Technologies by 3.7% during the first quarter. Maren Capital LLC now owns 295,137 shares of the scientific and technical instruments company's stock worth $146,893,000 after purchasing an additional 10,573 shares during the period. AlphaQuest LLC bought a new position in Teledyne Technologies during the first quarter worth about $57,000. Allstate Corp grew its holdings in Teledyne Technologies by 20.0% during the first quarter. Allstate Corp now owns 1,598 shares of the scientific and technical instruments company's stock worth $795,000 after purchasing an additional 266 shares during the period. 1832 Asset Management L.P. grew its holdings in Teledyne Technologies by 1,675.6% during the first quarter. 1832 Asset Management L.P. now owns 74,665 shares of the scientific and technical instruments company's stock worth $37,162,000 after purchasing an additional 70,460 shares during the period. Finally, Norinchukin Bank The grew its holdings in Teledyne Technologies by 14.2% during the first quarter. Norinchukin Bank The now owns 2,288 shares of the scientific and technical instruments company's stock worth $1,139,000 after purchasing an additional 285 shares during the period. Institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

TDY has been the subject of a number of research analyst reports. UBS Group lifted their price target on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Morgan Stanley raised their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Teledyne Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded down $4.59 during midday trading on Friday, reaching $537.50. The company's stock had a trading volume of 269,882 shares, compared to its average volume of 276,048. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66. Teledyne Technologies Incorporated has a fifty-two week low of $416.00 and a fifty-two week high of $570.56. The business's 50 day moving average price is $536.66 and its two-hundred day moving average price is $503.40. The company has a market cap of $25.20 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.50 and a beta of 1.09.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned $4.58 earnings per share. The firm'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 fiscal year.

Teledyne Technologies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $3,740,686.35. Following the completion of the sale, the chief executive officer owned 10,391 shares of the company's stock, valued at approximately $5,771,265.31. The trade was a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,021 shares of company stock worth $8,315,662. Corporate insiders own 1.50% of the company's stock.

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.