Gotham Asset Management LLC Has $25.36 Million Stake in Teledyne Technologies Incorporated $TDY

Key Points

• Gotham Asset Management LLC increased its stake in Teledyne Technologies by 18.5%, owning a total of 50,957 shares valued at approximately $25.36 million after acquiring an additional 7,944 shares in Q1.
• Teledyne Technologies has announced a $2.00 billion stock buyback plan, allowing for the repurchase of up to 7.7% of its shares, indicating the board believes the shares are undervalued.
• The company reported quarterly earnings of $5.20 per share, exceeding estimates, with revenues reaching $1.51 billion, a 10.2% year-over-year increase.

Gotham Asset Management LLC lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,957 shares of the scientific and technical instruments company's stock after buying an additional 7,944 shares during the quarter. Gotham Asset Management LLC owned approximately 0.11% of Teledyne Technologies worth $25,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Greenhouse Funds LLLP acquired a new position in Teledyne Technologies in the first quarter worth $48,532,000. AQR Capital Management LLC boosted its holdings in Teledyne Technologies by 27.8% in the first quarter. AQR Capital Management LLC now owns 32,660 shares of the scientific and technical instruments company's stock worth $16,117,000 after purchasing an additional 7,109 shares during the period. Alyeska Investment Group L.P. boosted its holdings in Teledyne Technologies by 1.1% in the first quarter. Alyeska Investment Group L.P. now owns 369,054 shares of the scientific and technical instruments company's stock worth $183,682,000 after purchasing an additional 3,921 shares during the period. Amundi boosted its holdings in shares of Teledyne Technologies by 43.6% during the first quarter. Amundi now owns 179,377 shares of the scientific and technical instruments company's stock valued at $84,594,000 after acquiring an additional 54,503 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in shares of Teledyne Technologies by 156.6% during the first quarter. Ancora Advisors LLC now owns 195 shares of the scientific and technical instruments company's stock valued at $97,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded down $1.58 during midday trading on Tuesday, reaching $544.72. 138,126 shares of the company traded hands, compared to its average volume of 321,594. Teledyne Technologies Incorporated has a 52 week low of $416.00 and a 52 week high of $570.56. The stock has a 50-day moving average price of $541.64 and a 200 day moving average price of $505.42. 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 company has a market cap of $25.54 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.55 and a beta of 1.09.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the business earned $4.58 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Teledyne Technologies announced that its board has initiated a stock buyback 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 buy up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

TDY has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target for the company. UBS Group boosted their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley boosted their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $576.57.

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 dated 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 sale, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was 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. The trade was a 39.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is owned by insiders.

About Teledyne Technologies

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.