Cetera Investment Advisers Has $4.84 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Key Points

• Cetera Investment Advisers increased its position in Teledyne Technologies by 5.4%, holding shares worth approximately $4.84 million after acquiring additional shares in the first quarter.
• Teledyne Technologies reported strong earnings, with $5.20 earnings per share for the quarter, surpassing analyst expectations of $5.05, and seen a revenue increase of 10.2% year-over-year.
• The company announced a $2.00 billion stock repurchase plan aimed at buying back up to 7.7% of its shares, indicating management's belief that the stock is currently undervalued.

Cetera Investment Advisers raised its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,714 shares of the scientific and technical instruments company's stock after acquiring an additional 497 shares during the quarter. Cetera Investment Advisers' holdings in Teledyne Technologies were worth $4,835,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC acquired a new stake in Teledyne Technologies in the first quarter valued at $247,000. Asset Management One Co. Ltd. lifted its stake in Teledyne Technologies by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock valued at $19,061,000 after acquiring an additional 1,712 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Teledyne Technologies by 8.3% in the first quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company's stock valued at $4,436,000 after acquiring an additional 681 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Teledyne Technologies in the first quarter valued at $6,725,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Teledyne Technologies during the 1st quarter worth about $275,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $544.56 on Friday. Teledyne Technologies Incorporated has a twelve month low of $397.78 and a twelve month high of $570.56. 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 $516.60 and a two-hundred day simple moving average of $497.71. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 2.56 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the previous year, the company earned $4.58 EPS. The business's revenue was up 10.2% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies declared that its board has approved a stock repurchase plan on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value of $3,740,686.35. Following the transaction, the chief executive officer directly owned 10,391 shares of the company's stock, valued at $5,771,265.31. This trade represents a 39.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the completion of the transaction, the director directly owned 61,913 shares in the company, valued at approximately $34,029,861.32. This represents a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock valued at $8,315,662 in the last ninety days. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of research reports. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Morgan Stanley raised 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 note on Thursday, July 17th. Needham & Company LLC cut their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group raised their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $576.57.

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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