HighTower Advisors LLC Has $3.55 Million Position in Teledyne Technologies Incorporated $TDY

Key Points

• HighTower Advisors LLC reduced its stake in Teledyne Technologies by 7.5% in the first quarter, resulting in ownership of 7,122 shares valued at approximately $3.5 million.
• Several other institutional investors, including Golden State Wealth Management LLC, have increased their positions in Teledyne, which now has 91.58% of its stock owned by hedge funds and other institutions.
• Teledyne Technologies recently announced a $2 billion share repurchase program, indicating its leadership's belief that the stock is undervalued.

HighTower Advisors LLC decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,122 shares of the scientific and technical instruments company's stock after selling 581 shares during the quarter. HighTower Advisors LLC's holdings in Teledyne Technologies were worth $3,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC raised its position in shares of Teledyne Technologies by 0.4% during the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock worth $2,556,000 after acquiring an additional 22 shares during the last quarter. Keel Point LLC increased its position in Teledyne Technologies by 4.5% in the fourth quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company's stock worth $247,000 after purchasing an additional 23 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Teledyne Technologies by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,538 shares of the scientific and technical instruments company's stock worth $3,254,000 after purchasing an additional 23 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Teledyne Technologies by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 947 shares of the scientific and technical instruments company's stock valued at $471,000 after purchasing an additional 24 shares during the period. Finally, HighPoint Advisor Group LLC lifted its position in Teledyne Technologies by 3.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 776 shares of the scientific and technical instruments company's stock valued at $359,000 after purchasing an additional 24 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley increased 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. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Stifel Nicolaus started coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target for the company. Finally, UBS Group raised their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $576.57.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, 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 transaction of $3,740,686.35. Following the completion of the transaction, the chief executive officer owned 10,391 shares of the company's stock, valued at approximately $5,771,265.31. The trade was a 39.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. This represents a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock worth $8,315,662 over the last 90 days. Insiders own 1.50% of the company's stock.

Teledyne Technologies Price Performance

NYSE TDY traded down $0.10 during midday trading on Wednesday, hitting $544.68. The company had a trading volume of 31,756 shares, compared to its average volume of 324,605. Teledyne Technologies Incorporated has a twelve month low of $416.00 and a twelve month high of $570.56. The firm has a 50-day moving average price of $533.50 and a 200-day moving average price of $502.69. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $25.54 billion, a PE ratio of 29.87, a P/E/G ratio of 2.51 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating 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 revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous 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. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has initiated a stock buyback plan 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 purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

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.