First Manhattan CO. LLC. Purchases 650 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• First Manhattan Co. LLC increased its stake in Teledyne Technologies by 16.3%, acquiring an additional 650 shares, bringing its total holdings to 4,647 shares valued at approximately $2.31 million.
• Teledyne Technologies has received a series of upgrades from analysts, including a new price target of $630.00 from UBS and an average price target of $576.57 based on ratings from multiple analysts.
• The company has announced a $2 billion share buyback plan, indicating management's belief that its shares are undervalued, and reported quarterly earnings that exceeded estimates, showing a 10.2% revenue increase year-over-year.

First Manhattan CO. LLC. boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 16.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,647 shares of the scientific and technical instruments company's stock after purchasing an additional 650 shares during the quarter. First Manhattan CO. LLC.'s holdings in Teledyne Technologies were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in shares of Teledyne Technologies by 205.9% during the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Teledyne Technologies in the 1st quarter valued at about $28,000. TCTC Holdings LLC increased its stake in shares of Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 37 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the last quarter. Finally, City Holding Co. bought a new stake in shares of Teledyne Technologies in the 1st quarter valued at about $38,000. Institutional investors own 91.58% of the company's stock.

Insider Transactions at Teledyne Technologies

In other news, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were 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 of the company's stock, valued at $28,748,812.80. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the transaction, the chief executive officer directly owned 10,391 shares of the company's stock, valued at $5,771,265.31. This represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock valued at $8,315,662 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TDY shares. UBS Group upped their price target on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley upped their price target on 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, Stifel Nicolaus assumed coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target for the company. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Teledyne Technologies has an average rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Stock Up 0.2%

NYSE TDY traded up $1.26 on Friday, reaching $548.26. The company had a trading volume of 266,615 shares, compared to its average volume of 253,595. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.55 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. Teledyne Technologies Incorporated has a 1-year low of $416.00 and a 1-year high of $570.56. The company's fifty day moving average is $540.96 and its 200-day moving average is $505.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $4.58 EPS. 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, research 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 repurchase program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.