Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Empirical Financial Services LLC reduced its holdings in Teledyne Technologies by 27.7%, selling 565 shares during the 2nd quarter, leaving them with 1,473 shares valued at approximately $755,000.
• Several institutional investors have increased their stakes in Teledyne, including Vanguard Group, which raised its position by 1.9%, now owning over 5.7 million shares worth nearly $2.85 billion.
• Teledyne Technologies reported earnings exceeding expectations for the last quarter, with $5.20 EPS, surpassing estimates by $0.15, and announced a $2 billion share buyback plan indicating potential undervaluation of its stock.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 27.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,473 shares of the scientific and technical instruments company's stock after selling 565 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Teledyne Technologies were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised 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 worth $2,846,053,000 after buying an additional 105,811 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 valued at $726,369,000 after acquiring an additional 143,062 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 valued at $548,872,000 after acquiring an additional 73,009 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $318,819,000 after acquiring an additional 232,401 shares in the last quarter. Finally, Northern Trust Corp raised its holdings 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 valued at $268,447,000 after acquiring an additional 2,490 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TDY shares. UBS Group raised their target price 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. Weiss Ratings restated a "buy (b)" rating on shares of Teledyne Technologies in a research report on Saturday, September 27th. Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective on the stock. Finally, Morgan Stanley raised their price target on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $587.15 on Friday. The stock has a market cap of $27.53 billion, a PE ratio of 32.33, a PEG ratio of 2.73 and a beta of 1.11. The company's fifty day moving average is $553.33 and its 200 day moving average is $514.71. Teledyne Technologies Incorporated has a 52 week low of $419.00 and a 52 week high of $590.09. 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 released 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. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.58 earnings per share. 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 anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies declared that its Board of Directors has initiated a share repurchase plan 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 reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $549.64, for a total value of $3,468,778.04. Following the transaction, the director directly owned 61,913 shares of the company's stock, valued at $34,029,861.32. The trade was a 9.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction on Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the transaction, the director directly owned 51,328 shares in the company, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock valued at $8,315,662 in the last ninety days. Company insiders own 1.50% of the company's stock.

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.

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