Freestone Grove Partners LP Buys Shares of 3,605 Teledyne Technologies Incorporated $TDY

Key Points

• Freestone Grove Partners initiated a Teledyne Technologies position by buying 3,605 shares worth approximately $2.4 million. Institutional investors collectively own 91.58% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $721.67; Needham and Stifel recently raised their targets to $750 and $775, respectively.
• Teledyne reported quarterly earnings of $6.28 per share, exceeding estimates by $0.49, while revenue rose 9.8% year over year to $1.66 billion. Shares opened at $621.17, below their 50-day and 200-day moving averages.

Freestone Grove Partners LP purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,605 shares of the scientific and technical instruments company's stock, valued at approximately $2,404,000.

A number of other hedge funds have also recently modified their holdings of the business. Trust Co. of Vermont purchased a new position in Teledyne Technologies during the second quarter valued at $28,000. Allied Private Wealth LLC bought a new position in shares of Teledyne Technologies in the second quarter worth about $28,000. Meeder Asset Management Inc. purchased a new position in shares of Teledyne Technologies during the 1st quarter valued at about $27,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Teledyne Technologies during the 2nd quarter valued at about $35,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Teledyne Technologies during the 2nd quarter valued at approximately $38,000. Institutional investors own 91.58% of the company's stock.

Insider Activity at Teledyne Technologies

In other news, Director Simon M. Lorne sold 6,449 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director owned 55,783 shares of the company's stock, valued at approximately $37,951,406.22. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

TDY has been the topic of a number of recent analyst reports. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $735.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Citigroup upped their price target on shares of Teledyne Technologies from $677.00 to $680.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Stifel Nicolaus increased their price objective on shares of Teledyne Technologies from $750.00 to $775.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Zacks Research downgraded shares of Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Barclays lifted their target price on shares of Teledyne Technologies from $614.00 to $640.00 and gave the company an "equal weight" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $721.67.

Teledyne Technologies Stock Down 0.9%

Shares of TDY opened at $621.17 on Friday. The business's 50 day moving average is $648.14 and its 200 day moving average is $641.34. The company has a current ratio of 2.18, a quick ratio of 1.39 and a debt-to-equity ratio of 0.19. Teledyne Technologies Incorporated has a 12-month low of $483.02 and a 12-month high of $697.67. The company has a market capitalization of $28.80 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.73 and a beta of 0.92.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $6.28 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.49. Teledyne Technologies had a return on equity of 10.56% and a net margin of 15.29%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company posted $5.20 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Teledyne Technologies has set its FY 2026 guidance at 24.450-24.650 EPS and its Q3 2026 guidance at 6.050-6.150 EPS. Research analysts expect that Teledyne Technologies Incorporated will post 24.69 earnings per share for the current fiscal year.

About Teledyne Technologies

Teledyne Technologies NYSE: TDY, headquartered in Thousand Oaks, California, is a diversified industrial technology company that designs, manufactures and supports sophisticated electronic systems, instruments and imaging products. Founded in 1960 by Henry Singleton and George Kozmetsky, Teledyne has grown into a multinational provider of high-performance equipment and software for commercial, scientific and government customers. Its offerings are used in markets that include aerospace and defense, marine, industrial manufacturing, environmental monitoring and scientific research.

The company operates through businesses that develop precision instrumentation, digital imaging products, engineered systems and aerospace and defense electronics.

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