Caisse DE Depot ET Placement DU Quebec Has $130.71 Million Stock Position in Teledyne Technologies Incorporated $TDY

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Teledyne Technologies by 10.7%, owning 262,618 shares valued at approximately $130.71 million after selling 31,483 shares in Q1.
• Teledyne Technologies reported better-than-expected earnings with an EPS of $5.20, surpassing analysts' estimates, and a year-over-year revenue increase of 10.2% to $1.51 billion.
• The company announced a stock repurchase plan authorizing the buyback of $2 billion worth of shares, indicating management's belief that the stock is undervalued.

Caisse DE Depot ET Placement DU Quebec trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,618 shares of the scientific and technical instruments company's stock after selling 31,483 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.56% of Teledyne Technologies worth $130,708,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Teledyne Technologies by 61,911.9% during the 1st quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock valued at $247,220,000 after purchasing an additional 495,914 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Teledyne Technologies by 19,605.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company's stock valued at $169,469,000 after purchasing an additional 363,280 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Teledyne Technologies during the 4th quarter valued at $143,524,000. Pacer Advisors Inc. raised its stake in Teledyne Technologies by 3,319.3% during the 1st quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock valued at $90,385,000 after purchasing an additional 176,290 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Teledyne Technologies by 10.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock valued at $726,369,000 after purchasing an additional 143,062 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Trading Up 1.4%

Shares of Teledyne Technologies stock opened at $550.0250 on Monday. The stock has a market capitalization of $25.79 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 2.56 and a beta of 1.07. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $531.35 and a 200 day simple moving average of $502.19. Teledyne Technologies Incorporated has a 12-month low of $416.00 and a 12-month high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 14.54% and a return on equity of 9.96%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $4.58 EPS. 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 earnings per share for the current fiscal year.

Teledyne Technologies announced that its board has authorized a stock repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on TDY shares. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. UBS Group increased their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley increased their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus started coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $576.57.

Insider Buying and Selling

In related news, Director Michael T. Smith sold 1,975 shares of the stock in a transaction dated 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 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 document filed with the SEC, which is available through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the sale, the director owned 61,913 shares of the company's stock, valued at $34,029,861.32. This trade represents a 9.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock worth $8,315,662 in the last quarter. 1.50% of the stock is owned by corporate insiders.

About Teledyne Technologies

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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