ASR Vermogensbeheer N.V. Buys Shares of 1,144 Teledyne Technologies Incorporated (NYSE:TDY)

Key Points

• ASR Vermogensbeheer N.V. acquired 1,144 shares of Teledyne Technologies worth approximately $569,000 during the first quarter of the year.
• Insider transactions included a 6,311 share sale by Director Simon M. Lorne and a 6,735 share sale by CEO George C. Bobb III, reflecting significant changes in their ownership stakes.
• Teledyne Technologies announced a $2.00 billion stock buyback plan, allowing the company to repurchase up to 7.7% of its shares, typically indicating the board believes the stock is undervalued.

ASR Vermogensbeheer N.V. bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,144 shares of the scientific and technical instruments company's stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in shares of Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after acquiring an additional 35 shares during the period. Quarry LP purchased a new position in shares of Teledyne Technologies in the 4th quarter valued at $28,000. NBC Securities Inc. purchased a new position in shares of Teledyne Technologies in the 1st quarter valued at $28,000. Ancora Advisors LLC increased its holdings in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the period. Finally, TCTC Holdings LLC increased its holdings in shares of Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 37 shares during the period. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the topic of several research analyst reports. TD Securities restated a "buy" rating and set a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Stifel Nicolaus initiated coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price on the stock. Morgan Stanley boosted their target price 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. UBS Group boosted their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $576.57.

Insider Activity

In related news, Director Simon M. Lorne sold 6,311 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $549.64, for a total value of $3,468,778.04. Following the completion of the transaction, the director owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. This represents a 9.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the transaction, the director directly 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 a total of 15,021 shares of company stock valued at $8,315,662 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded down $2.04 during trading hours on Wednesday, hitting $550.26. 384,272 shares of the stock traded hands, compared to its average volume of 328,430. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. The firm's 50 day moving average price is $524.18 and its 200-day moving average price is $500.52. The stock has a market capitalization of $25.80 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.52 and a beta of 1.07. Teledyne Technologies Incorporated has a 1 year low of $406.42 and a 1 year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.58 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its board has authorized a share repurchase program on Wednesday, July 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs are often a sign 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.