Korea Investment CORP Purchases 8,493 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Korea Investment CORP increased its stake in Teledyne Technologies by 24.7%, now holding 42,873 shares valued at approximately $21.34 million.
• Teledyne Technologies reported a 10.2% revenue increase year-over-year, with quarterly revenue of $1.51 billion and earnings per share of $5.20, surpassing analysts' expectations.
• The company has authorized a $2.00 billion stock buyback plan, indicating management's belief that the stock is undervalued.

Korea Investment CORP raised its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,873 shares of the scientific and technical instruments company's stock after purchasing an additional 8,493 shares during the period. Korea Investment CORP owned 0.09% of Teledyne Technologies worth $21,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Golden State Wealth Management LLC increased its position in Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 35 shares in the last quarter. Quarry LP bought a new stake in Teledyne Technologies during the 4th quarter valued at $28,000. NBC Securities Inc. bought a new stake in Teledyne Technologies during the 1st quarter valued at $28,000. Ancora Advisors LLC raised its holdings in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 50 shares during the last quarter. Finally, TCTC Holdings LLC lifted its stake in shares of Teledyne Technologies by 97.4% in the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 37 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

Shares of TDY traded down $7.1080 on Monday, reaching $543.9520. 167,312 shares of the company's stock traded hands, compared to its average volume of 326,322. The stock's 50 day simple moving average is $531.35 and its two-hundred day simple moving average is $502.19. The stock has a market cap of $25.51 billion, a PE ratio of 30.00, a PEG ratio of 2.56 and a beta of 1.07. Teledyne Technologies Incorporated has a 52-week low of $416.00 and a 52-week high of $570.56. 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 (NYSE:TDY - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.96% and a net margin of 14.54%.The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company earned $4.58 EPS. The business's revenue for the quarter 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. On average, analysts forecast 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 authorized a stock repurchase plan on Wednesday, July 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Activity at Teledyne Technologies

In other news, 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 transaction, the director directly owned 61,913 shares of the company's stock, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TDY has been the subject of several recent research reports. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley boosted their price objective on 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 Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus began coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price on the stock. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.