Bank of Nova Scotia Makes New $3.67 Million Investment in Teledyne Technologies Incorporated $TDY

Key Points

• Bank of Nova Scotia acquired 5,509 Teledyne Technologies shares worth approximately $3.67 million during the second quarter. Institutional investors collectively own 91.58% of TDY.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $721.67; several firms recently raised their targets.
• Teledyne exceeded quarterly expectations, reporting $6.28 in EPS versus the $5.79 estimate and $1.66 billion in revenue, up 9.8% year over year. A company director separately sold shares worth about $4.39 million.

Bank of Nova Scotia acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,509 shares of the scientific and technical instruments company's stock, valued at approximately $3,675,000.

Several other institutional investors have also modified their holdings of TDY. Elevation Point Wealth Partners LLC purchased a new stake in Teledyne Technologies during the 2nd quarter valued at $878,000. Daiichi Life Insurance Co. Ltd. bought a new stake in Teledyne Technologies in the second quarter worth $9,773,000. Commerce Bank purchased a new position in Teledyne Technologies during the second quarter worth $1,216,000. Northwestern Mutual Wealth Management Co. purchased a new position in Teledyne Technologies during the second quarter worth $351,000. Finally, Quantbot Technologies LP bought a new position in Teledyne Technologies during the second quarter valued at $115,000. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TDY shares. Barclays raised their target price on shares of Teledyne Technologies from $614.00 to $640.00 and gave the stock an "equal weight" rating in a report on Friday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Teledyne Technologies in a report on Wednesday, August 19th. Jefferies Financial Group raised shares of Teledyne Technologies to a "strong-buy" rating in a research report on Wednesday, June 10th. Stifel Nicolaus raised their price objective on shares of Teledyne Technologies from $750.00 to $775.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Citigroup boosted their target price on Teledyne Technologies from $677.00 to $680.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $721.67.

Teledyne Technologies Trading Up 0.3%

TDY stock opened at $627.39 on Wednesday. Teledyne Technologies Incorporated has a 12 month low of $483.02 and a 12 month high of $697.67. The firm's 50-day moving average is $647.66 and its 200 day moving average is $641.59. The company has a market capitalization of $29.09 billion, a PE ratio of 30.29, a P/E/G ratio of 2.72 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.18 and a quick ratio of 1.39.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $6.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.79 by $0.49. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.58 billion. Teledyne Technologies had a net margin of 15.29% and a return on equity of 10.56%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $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. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 24.69 EPS for the current year.

Insider Activity

In related news, Director Simon M. Lorne sold 6,449 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director owned 55,783 shares of the company's stock, valued at $37,951,406.22. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.36% of the company's stock.

About Teledyne Technologies

Teledyne Technologies NYSE: TDY, headquartered in Thousand Oaks, California, is a diversified industrial technology company that designs, manufactures and supports sophisticated electronic systems, instruments and imaging products. Founded in 1960 by Henry Singleton and George Kozmetsky, Teledyne has grown into a multinational provider of high-performance equipment and software for commercial, scientific and government customers. Its offerings are used in markets that include aerospace and defense, marine, industrial manufacturing, environmental monitoring and scientific research.

The company operates through businesses that develop precision instrumentation, digital imaging products, engineered systems and aerospace and defense electronics.

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