Federation des caisses Desjardins du Quebec Trims Position in Teledyne Technologies Incorporated $TDY

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Teledyne Technologies by 15.1%, now owning 4,140 shares valued at approximately $2.06 million.
• Teledyne Technologies announced a $2.00 billion share buyback program, indicating the board believes the stock is undervalued.
• Analysts have set new price targets for Teledyne Technologies, with Morgan Stanley increasing its target from $535 to $580 and UBS raising it to $630, reflecting a generally positive outlook.

Federation des caisses Desjardins du Quebec lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,140 shares of the scientific and technical instruments company's stock after selling 735 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Teledyne Technologies were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of TDY. Golden State Wealth Management LLC increased its position in shares of Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 35 shares during the period. NBC Securities Inc. bought a new position in Teledyne Technologies in the first quarter worth $28,000. TCTC Holdings LLC raised its holdings in Teledyne Technologies by 97.4% in the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 37 shares in the last quarter. City Holding Co. bought a new position in Teledyne Technologies in the first quarter worth $38,000. Finally, WPG Advisers LLC bought a new position in Teledyne Technologies in the first quarter worth $44,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Up 0.1%

Shares of TDY traded up $0.80 on Wednesday, hitting $545.56. 221,584 shares of the stock traded hands, compared to its average volume of 321,013. The company has a market capitalization of $25.58 billion, a PE ratio of 30.04, a P/E/G ratio of 2.54 and a beta of 1.09. 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 business has a 50 day simple moving average of $542.31 and a 200 day simple moving average of $505.70. Teledyne Technologies Incorporated has a one year low of $416.00 and a one year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm 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. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

TDY has been the subject of a number of analyst reports. 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 company an "equal weight" rating in a research note on Thursday, July 17th. Finally, 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 note on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Insider Buying and Selling

In related news, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the 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 sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is owned by insiders.

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.