Contravisory Investment Management Inc. Purchases New Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Contravisory Investment Management Inc. acquired 592 shares of Teledyne Technologies, valued at approximately $303,000, as part of its investment strategy during the 2nd quarter.
• Multiple institutional investors increased their holdings in Teledyne Technologies, with Sumitomo Mitsui DS Asset Management Company raising its stake by 86.6% during the same period.
• Teledyne Technologies reported a quarterly EPS of $5.20, surpassing estimates, and announced a $2 billion stock buyback program, indicating confidence in its market value.

Contravisory Investment Management Inc. acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 592 shares of the scientific and technical instruments company's stock, valued at approximately $303,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC purchased a new position in Teledyne Technologies during the first quarter worth about $247,000. Asset Management One Co. Ltd. lifted its position in Teledyne Technologies by 4.7% during the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock worth $19,061,000 after buying an additional 1,712 shares during the period. IFM Investors Pty Ltd lifted its position in Teledyne Technologies by 8.3% during the first quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company's stock worth $4,436,000 after buying an additional 681 shares during the period. Integrated Wealth Concepts LLC lifted its position in Teledyne Technologies by 9.7% during the first quarter. Integrated Wealth Concepts LLC now owns 2,846 shares of the scientific and technical instruments company's stock worth $1,416,000 after buying an additional 251 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Teledyne Technologies during the first quarter worth about $6,725,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TDY has been the topic of several recent analyst reports. UBS Group increased their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus initiated coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price on the stock. Finally, Morgan Stanley increased their target price 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. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Insider Activity

In other news, CEO George C. Bobb III sold 6,735 shares of the 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 sale, the chief executive officer owned 10,391 shares in the company, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,106,197.50. Following the completion of the sale, the director owned 51,328 shares of the company's stock, valued at approximately $28,748,812.80. This trade represents a 3.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Up 0.3%

NYSE:TDY traded up $1.69 on Monday, hitting $567.10. 249,598 shares of the stock were exchanged, compared to its average volume of 242,485. The stock has a market cap of $26.59 billion, a PE ratio of 31.23, a PEG ratio of 2.62 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $548.96 and a 200-day moving average of $509.46. Teledyne Technologies Incorporated has a fifty-two week low of $419.00 and a fifty-two week high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $4.58 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has approved a share repurchase 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 reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board 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.