Findlay Park Partners LLP Reduces Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Findlay Park Partners LLP reduced its holdings in Teledyne Technologies by 34.7% in Q1, selling 116,000 shares and now owning 218,039 shares valued at approximately $108.5 million.
• Teledyne Technologies reported a quarterly EPS of $5.20, exceeding analysts' expectations, and has set FY 2025 guidance between $21.20 to $21.50 per share.
• The company has initiated a $2 billion share repurchase program, indicating confidence from leadership regarding the stock valuation, with insiders also selling shares recently.

Findlay Park Partners LLP trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,039 shares of the scientific and technical instruments company's stock after selling 116,000 shares during the quarter. Findlay Park Partners LLP owned 0.47% of Teledyne Technologies worth $108,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TDY. GAMMA Investing LLC lifted its position in shares of Teledyne Technologies by 61,911.9% during 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 purchasing an additional 495,914 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Teledyne Technologies by 19,605.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company's stock worth $169,469,000 after purchasing an additional 363,280 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Teledyne Technologies during the fourth quarter worth $143,524,000. Pacer Advisors Inc. lifted its position in shares of Teledyne Technologies by 3,319.3% during the first 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 during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Teledyne Technologies by 10.9% during the first 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. 91.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the business'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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction dated Friday, July 25th. The stock was 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 owned 61,913 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TDY has been the subject of several research analyst reports. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley lifted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Stifel Nicolaus began coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Finally, UBS Group lifted their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $576.57.

Teledyne Technologies Stock Down 0.8%

Teledyne Technologies stock traded down $4.59 during trading hours on Friday, reaching $537.50. The stock had a trading volume of 269,882 shares, compared to its average volume of 284,868. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. The business's 50 day moving average price is $536.66 and its 200-day moving average price is $503.37. Teledyne Technologies Incorporated has a 52 week low of $416.00 and a 52 week high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The business 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 revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $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. Sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a share buyback 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 reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board 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.