Greenhouse Funds LLLP Takes Position in Teledyne Technologies Incorporated $TDY

Key Points

• Greenhouse Funds LLLP acquired 97,510 shares of Teledyne Technologies, valued at approximately $48.5 million, making it the fund's 21st largest position.
• Teledyne Technologies reported earnings of $5.20 per share for the last quarter, exceeding analysts' expectations, and its stock has a market cap of $25.52 billion.
• The company has authorized a stock repurchase program allowing for the buyback of $2.00 billion in shares, indicating management's belief that the stock is undervalued.

Greenhouse Funds LLLP acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,510 shares of the scientific and technical instruments company's stock, valued at approximately $48,532,000. Teledyne Technologies makes up approximately 2.3% of Greenhouse Funds LLLP's portfolio, making the stock its 21st biggest position. Greenhouse Funds LLLP owned about 0.21% of Teledyne Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Teledyne Technologies by 27.8% during the first quarter. AQR Capital Management LLC now owns 32,660 shares of the scientific and technical instruments company's stock valued at $16,117,000 after buying an additional 7,109 shares during the last quarter. Alyeska Investment Group L.P. boosted its position 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 last quarter. Amundi boosted its position in Teledyne Technologies by 43.6% in the first quarter. Amundi now owns 179,377 shares of the scientific and technical instruments company's stock worth $84,594,000 after purchasing an additional 54,503 shares during the last quarter. Ancora Advisors LLC boosted its position in Teledyne Technologies by 156.6% in the first quarter. Ancora Advisors LLC now owns 195 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 119 shares during the last quarter. Finally, First Manhattan CO. LLC. boosted its position in Teledyne Technologies by 16.3% in the first quarter. First Manhattan CO. LLC. now owns 4,647 shares of the scientific and technical instruments company's stock worth $2,313,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Insider Activity at Teledyne Technologies

In related news, Director Simon M. Lorne sold 6,311 shares of the 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 sale, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO George C. Bobb III sold 6,735 shares of the stock in a transaction dated 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 sale, the chief executive officer 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 worth $8,315,662 in the last ninety days. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $544.26 on Thursday. The firm has a market cap of $25.52 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.50 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. The business's fifty day moving average is $539.38 and its 200 day moving average is $504.24. 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 earnings per share for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company 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. Research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its board has authorized a stock repurchase program on Wednesday, July 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their target price 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 boosted their target price 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. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. Finally, Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $576.57.

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.

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