Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Position in Teledyne Technologies Incorporated $TDY

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its ownership in Teledyne Technologies by 35% in Q1, holding approximately 27,053 shares valued at $13.47 million.
• Teledyne Technologies announced a $2 billion stock repurchase plan, signifying management's belief that the stock may be undervalued.
• The company reported better-than-expected Q2 earnings of $5.20 per share, exceeding estimates of $5.05 and demonstrating a year-over-year revenue increase of 10.2%.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 35.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,053 shares of the scientific and technical instruments company's stock after buying an additional 7,014 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.06% of Teledyne Technologies worth $13,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in Teledyne Technologies by 205.9% in 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 buying an additional 35 shares in the last quarter. Quarry LP purchased a new position in Teledyne Technologies in the 4th quarter valued at about $28,000. NBC Securities Inc. purchased a new position in Teledyne Technologies in the 1st quarter valued at about $28,000. Ancora Advisors LLC lifted its stake in 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 buying an additional 50 shares in the last quarter. Finally, TCTC Holdings LLC lifted its stake in 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 buying an additional 37 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TDY has been the topic of a number of research reports. Needham & Company LLC decreased their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. TD Securities reissued a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Morgan Stanley raised their target price on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $576.57.

Teledyne Technologies Trading Down 0.2%

Shares of NYSE TDY traded down $1.0870 during midday trading on Wednesday, reaching $542.0630. 267,895 shares of the stock were exchanged, compared to its average volume of 401,238. The company has a 50 day simple moving average of $529.16 and a 200 day simple moving average of $501.86. The stock has a market capitalization of $25.42 billion, a P/E ratio of 29.85, a PEG ratio of 2.52 and a beta of 1.07. 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 twelve month low of $415.78 and a twelve month 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 (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 business's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm 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. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

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

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $560.10, for a total value of $1,106,197.50. Following the sale, the director owned 51,328 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CEO George C. Bobb III sold 6,735 shares of the business'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 completion of the sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock valued at $8,315,662 over the last quarter. 1.50% of the stock is owned by company insiders.

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.