Ascent Group LLC Purchases 4,338 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Ascent Group LLC significantly boosted its holdings in Teledyne Technologies by 570.0%, now owning 5,099 shares valued at approximately $2.54 million.
• Teledyne Technologies reported earnings per share (EPS) of $5.20 for Q2, exceeding estimates, and its revenue totaled $1.51 billion, marking a 10.2% increase from the prior year.
• The company has authorized a $2.00 billion stock repurchase plan, allowing it to buy back up to 7.7% of its outstanding shares, indicating management's belief that the stock may be undervalued.

Ascent Group LLC raised its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 570.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,099 shares of the scientific and technical instruments company's stock after purchasing an additional 4,338 shares during the period. Ascent Group LLC's holdings in Teledyne Technologies were worth $2,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. United Services Automobile Association bought a new position in shares of Teledyne Technologies during the first quarter valued at approximately $508,000. Signature Estate & Investment Advisors LLC increased its position in shares of Teledyne Technologies by 257.0% during the first quarter. Signature Estate & Investment Advisors LLC now owns 18,275 shares of the scientific and technical instruments company's stock valued at $9,096,000 after acquiring an additional 13,156 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Teledyne Technologies by 53.3% during the first quarter. Goldman Sachs Group Inc. now owns 259,753 shares of the scientific and technical instruments company's stock valued at $129,282,000 after acquiring an additional 90,302 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Teledyne Technologies by 874.5% during the first quarter. Jones Financial Companies Lllp now owns 1,949 shares of the scientific and technical instruments company's stock valued at $970,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $201,000. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TDY. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. 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 target for the company. Morgan Stanley raised their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, UBS Group raised their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $576.57.

Insider Transactions at Teledyne Technologies

In other news, 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 transaction of $1,106,197.50. Following the transaction, the director owned 51,328 shares in the company, valued at $28,748,812.80. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 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. This represents a 39.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock worth $8,315,662 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Teledyne Technologies Stock Performance

TDY stock traded up $3.58 on Tuesday, hitting $544.71. The company had a trading volume of 232,246 shares, compared to its average volume of 307,508. Teledyne Technologies Incorporated has a 12-month low of $416.00 and a 12-month high of $570.56. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock's 50-day simple moving average is $533.50 and its 200 day simple moving average is $502.69. The stock has a market cap of $25.54 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.51 and a beta of 1.07.

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 the consensus estimate of $5.05 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $4.58 earnings per share. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has authorized a stock buyback program 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 programs are often a sign that the company's board of directors believes its stock is undervalued.

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.