KLP Kapitalforvaltning AS Has $25.64 Million Stake in Teledyne Technologies Incorporated $TDY

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Teledyne Technologies by 101.4% in Q2, now holding a total of 50,040 shares valued at approximately $25.64 million.
• Teledyne recently reported earnings of $5.20 per share, surpassing estimates, with revenue increasing 10.2% year-over-year, leading to a strong performance outlook for FY 2025.
• The company has authorized a $2 billion share repurchase plan, indicating the board's confidence in the stock's valuation and signaling potential future value generation for shareholders.

KLP Kapitalforvaltning AS grew its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 101.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,040 shares of the scientific and technical instruments company's stock after acquiring an additional 25,200 shares during the period. KLP Kapitalforvaltning AS owned 0.11% of Teledyne Technologies worth $25,636,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. SteelPeak Wealth LLC raised its stake in shares of Teledyne Technologies by 2.2% in the second quarter. SteelPeak Wealth LLC now owns 1,734 shares of the scientific and technical instruments company's stock valued at $888,000 after acquiring an additional 38 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Teledyne Technologies by 25.1% in the second quarter. DAVENPORT & Co LLC now owns 1,416 shares of the scientific and technical instruments company's stock valued at $725,000 after acquiring an additional 284 shares during the last quarter. Running Oak Capital LLC raised its stake in shares of Teledyne Technologies by 4.4% in the second quarter. Running Oak Capital LLC now owns 32,658 shares of the scientific and technical instruments company's stock valued at $16,731,000 after acquiring an additional 1,384 shares during the last quarter. AMF Tjanstepension AB bought a new stake in Teledyne Technologies during the 2nd quarter worth about $6,023,000. Finally, 111 Capital grew its holdings in Teledyne Technologies by 39.7% during the 2nd quarter. 111 Capital now owns 1,021 shares of the scientific and technical instruments company's stock worth $523,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TDY shares. Stifel Nicolaus started coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. UBS Group increased their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Teledyne Technologies in a report on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $588.54 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. Teledyne Technologies Incorporated has a 1 year low of $419.00 and a 1 year high of $595.99. The company has a market cap of $27.60 billion, a PE ratio of 32.41, a PEG ratio of 2.76 and a beta of 1.11. The company's 50-day moving average is $554.78 and its two-hundred day moving average is $515.96.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) 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 company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company posted $4.58 EPS. The company's revenue was up 10.2% compared to the same quarter last year. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized 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 purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Teledyne Technologies

In related news, Director Michael T. Smith sold 1,975 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the sale, the director directly owned 51,328 shares in the company, valued at $28,748,812.80. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were 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 owned 61,913 shares in the company, valued at $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 15,021 shares of company stock worth $8,315,662 in the last ninety days. Company insiders own 1.50% of the company's stock.

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.

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