Central Pacific Bank Trust Division Acquires 508 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Central Pacific Bank Trust Division significantly increased its holdings in Teledyne Technologies, acquiring an additional 508 shares, representing a 1,270% growth in their position during the second quarter, with a total value of approximately $281,000.
• Analysts remain optimistic about Teledyne Technologies, with UBS Group and Morgan Stanley raising their price targets to $630.00 and $580.00 respectively, indicating a consensus target price of $576.57.
• Teledyne Technologies has initiated a $2.00 billion stock buyback plan, allowing for the repurchase of up to 7.7% of its stock, signaling confidence in its valuation from company leadership.

Central Pacific Bank Trust Division grew its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1,270.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548 shares of the scientific and technical instruments company's stock after buying an additional 508 shares during the period. Central Pacific Bank Trust Division's holdings in Teledyne Technologies were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Teledyne Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock worth $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Teledyne Technologies by 10.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock worth $726,369,000 after purchasing an additional 143,062 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Teledyne Technologies by 7.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,102,795 shares of the scientific and technical instruments company's stock worth $548,872,000 after purchasing an additional 73,009 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Teledyne Technologies by 56.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 640,572 shares of the scientific and technical instruments company's stock worth $318,819,000 after purchasing an additional 232,401 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Teledyne Technologies by 0.5% in the 1st quarter. Northern Trust Corp now owns 539,364 shares of the scientific and technical instruments company's stock worth $268,447,000 after purchasing an additional 2,490 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price target on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Stifel Nicolaus assumed coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target for the company. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Teledyne Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $576.57.

Insiders Place Their Bets

In other Teledyne Technologies news, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the completion of the transaction, the chief executive officer owned 10,391 shares of the company's stock, valued at approximately $5,771,265.31. The trade was a 39.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the sale, the director owned 51,328 shares of the company's stock, valued at approximately $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is owned by insiders.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $556.06 on Monday. Teledyne Technologies Incorporated has a fifty-two week low of $419.00 and a fifty-two week high of $570.56. The business has a 50-day simple moving average of $544.74 and a two-hundred day simple moving average of $506.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the firm earned $4.58 EPS. Teledyne Technologies'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. On average, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its board has initiated a share buyback plan on Wednesday, July 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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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