Bank of America Corp DE Invests $406.94 Million in Teledyne Technologies Incorporated $TDY

Bank of America Corp DE bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 610,193 shares of the scientific and technical instruments company's stock, valued at approximately $406,938,000. Bank of America Corp DE owned 1.32% of Teledyne Technologies as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Teledyne Technologies during the 2nd quarter valued at about $2,751,121,000. Jupiter Topco LLC acquired a new stake in Teledyne Technologies during the 2nd quarter valued at $1,027,237,000. Norges Bank acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at $428,664,000. Findlay Park Partners LLP acquired a new stake in Teledyne Technologies in the 2nd quarter valued at about $277,363,000. Finally, Port Capital LLC bought a new position in Teledyne Technologies in the 2nd quarter worth approximately $162,900,000. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $598.05 on Wednesday. Teledyne Technologies Incorporated has a fifty-two week low of $483.02 and a fifty-two week high of $697.67. The business has a fifty day moving average price of $639.88 and a two-hundred day moving average price of $636.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.18 and a quick ratio of 1.39. The stock has a market capitalization of $27.73 billion, a PE ratio of 28.88, a P/E/G ratio of 2.60 and a beta of 0.91.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $6.28 earnings per share for the quarter, beating analysts' consensus estimates of $5.79 by $0.49. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.58 billion. Teledyne Technologies had a return on equity of 10.56% and a net margin of 15.29%.The company's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.20 EPS. Teledyne Technologies has set its FY 2026 guidance at 24.450-24.650 EPS and its Q3 2026 guidance at 6.050-6.150 EPS. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 24.69 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, Director Simon Lorne sold 6,449 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director directly owned 55,783 shares in the company, valued at $37,951,406.22. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Teledyne Technologies from $614.00 to $640.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. Zacks Research lowered Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Citigroup upped their target price on shares of Teledyne Technologies from $677.00 to $680.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Teledyne Technologies in a research note on Wednesday, August 19th. Finally, Needham & Company LLC lifted their target price on Teledyne Technologies from $750.00 to $760.00 and gave the company a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $723.33.

Teledyne Technologies Profile

Teledyne Technologies Incorporated NYSE: TDY is an industrial technology company that develops and manufactures advanced instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products are used in scientific research, industrial automation, environmental monitoring, medical imaging, transportation, and government and defense applications.

The company's offerings include sensors, cameras, machine-vision systems, data-acquisition equipment, marine and environmental instruments, space and airborne imaging systems, and electronic components for aerospace and defense platforms.

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