Benson Investment Management Company Inc. Makes New Investment in Teledyne Technologies Incorporated $TDY

Key Points

• Benson Investment Management Company Inc. has acquired a new position in Teledyne Technologies, purchasing 10,938 shares valued at approximately $5.6 million, which constitutes about 2.1% of its investment portfolio.
• Teledyne Technologies announced a $2 billion share buyback plan, allowing the company to repurchase up to 7.7% of its stock, indicating confidence in the company's valuation.
• The company reported a quarterly earnings per share (EPS) of $5.20, exceeding analysts' expectations, and has set a fiscal year 2025 guidance of 21.200-21.500 EPS.

Benson Investment Management Company Inc. bought a new position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,938 shares of the scientific and technical instruments company's stock, valued at approximately $5,604,000. Teledyne Technologies makes up about 2.1% of Benson Investment Management Company Inc.'s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in TDY. NBC Securities Inc. bought a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $28,000. Merit Financial Group LLC bought a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $219,000. GAMMA Investing LLC raised its holdings in shares of Teledyne Technologies by 24.6% in the 1st quarter. GAMMA Investing LLC now owns 998 shares of the scientific and technical instruments company's stock worth $497,000 after purchasing an additional 197 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $6,725,000. Finally, CX Institutional bought a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $230,000. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of TDY opened at $567.27 on Friday. The company's 50 day moving average price is $556.50 and its 200 day moving average price is $517.30. Teledyne Technologies Incorporated has a 52 week low of $419.00 and a 52 week high of $595.99. The company has a market capitalization of $26.60 billion, a PE ratio of 31.24, a PEG ratio of 2.68 and a beta of 1.11. 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 (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $4.58 earnings per share. The firm's 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. Research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies announced that its board has initiated a share buyback plan 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 purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TDY shares. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. UBS Group lifted their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Teledyne Technologies in a research report on Wednesday. Barclays began coverage on shares of Teledyne Technologies in a research report on Wednesday. They issued an "equal weight" rating and a $606.00 target price on the stock. Finally, Morgan Stanley lifted their target price 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. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $580.25.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the completion of the sale, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,106,197.50. Following the completion of the sale, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock worth $8,315,662 over the last ninety days. 1.50% of the stock is currently owned by insiders.

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.

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