Lecap Asset Management Ltd. Invests $808,000 in Teledyne Technologies Incorporated $TDY

Key Points

• Lecap Asset Management Ltd. invested approximately $808,000 in Teledyne Technologies, acquiring 1,578 shares in the second quarter.
• Teledyne Technologies has received multiple price target increases from analysts, with UBS raising its target from $585.00 to $630.00 and Morgan Stanley increasing its target to $580.00.
• In July, Teledyne Technologies announced a share buyback program allowing for the repurchase of up to $2.00 billion in outstanding shares, signaling confidence in the company’s valuation.

Lecap Asset Management Ltd. acquired a new position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,578 shares of the scientific and technical instruments company's stock, valued at approximately $808,000.

A number of other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Teledyne Technologies by 36.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,835 shares of the scientific and technical instruments company's stock valued at $852,000 after buying an additional 491 shares during the last quarter. Wellington Management Group LLP raised its holdings in Teledyne Technologies by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 7,725 shares of the scientific and technical instruments company's stock valued at $3,585,000 after buying an additional 424 shares during the last quarter. Parallel Advisors LLC raised its holdings in Teledyne Technologies by 40.1% during the 1st quarter. Parallel Advisors LLC now owns 377 shares of the scientific and technical instruments company's stock valued at $188,000 after buying an additional 108 shares during the last quarter. NBC Securities Inc. bought a new stake in Teledyne Technologies during the 1st quarter valued at $28,000. Finally, Merit Financial Group LLC bought a new stake in Teledyne Technologies during the 1st quarter valued at $219,000. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TDY. UBS Group upped 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. Stifel Nicolaus began 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. Finally, Morgan Stanley upped 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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Teledyne Technologies has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 1,975 shares of the company's stock in a transaction dated 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 transaction, the director owned 51,328 shares in the company, valued at $28,748,812.80. The trade was a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of the company's 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 transaction, the director owned 61,913 shares in the company, valued at approximately $34,029,861.32. The trade was a 9.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock valued at $8,315,662 in the last three months. 1.50% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Up 1.3%

NYSE:TDY opened at $582.44 on Friday. The firm's 50-day moving average price is $552.71 and its 200-day moving average price is $514.00. The company has a market capitalization of $27.31 billion, a PE ratio of 32.07, a P/E/G ratio of 2.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. Teledyne Technologies Incorporated has a 1-year low of $419.00 and a 1-year high of $586.28.

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 for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The company's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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

Teledyne Technologies Company 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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