Contravisory Investment Management Inc. Makes New Investment 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 second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 592 shares of the scientific and technical instruments company's stock, valued at approximately $303,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Teledyne Technologies by 61,911.9% in the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock worth $247,220,000 after buying an additional 495,914 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 valued at $318,819,000 after acquiring an additional 232,401 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Teledyne Technologies by 3,319.3% in the 1st quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock worth $90,385,000 after purchasing an additional 176,290 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of 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 worth $726,369,000 after purchasing an additional 143,062 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Teledyne Technologies by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock valued at $2,846,053,000 after purchasing an additional 105,811 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TDY. Morgan Stanley lifted their price objective 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. UBS Group lifted their price target on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, 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 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of "Moderate Buy" and an average price target of $576.57.

Insider Activity

In related news, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 10,391 shares in the company, valued at approximately $5,771,265.31. The trade was a 39.33% decrease in their position. The transaction 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 firm'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 transaction, 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. Over the last ninety days, insiders sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Up 0.4%

Shares of TDY traded up $2.32 during trading on Friday, reaching $564.95. 407,937 shares of the company traded hands, compared to its average volume of 229,434. The stock has a 50-day simple moving average of $548.34 and a 200-day simple moving average of $508.67. The stock has a market cap of $26.49 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 2.61 and a beta of 1.09. Teledyne Technologies Incorporated has a twelve month low of $419.00 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.

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 EPS 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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business posted $4.58 EPS. The business'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. On average, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Teledyne Technologies 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.