Mirae Asset Global Investments Co. Ltd. Boosts Stake in Teledyne Technologies Incorporated $TDY

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Teledyne Technologies by 10.0%, owning a total of 5,520 shares valued at approximately $2.83 million.
• Teledyne's CEO and Director both sold significant amounts of stock recently, indicating a 39% and 9.25% decrease in their respective holdings.
• The company's recent earnings report showed a 10.2% year-over-year revenue increase and a projected earnings per share of $21.55 for the current year.

Mirae Asset Global Investments Co. Ltd. raised its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,520 shares of the scientific and technical instruments company's stock after buying an additional 502 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Teledyne Technologies were worth $2,828,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TDY. Wealth Enhancement Advisory Services LLC raised its stake in shares of 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 worth $852,000 after purchasing an additional 491 shares during the period. NBC Securities Inc. bought a new stake in shares of Teledyne Technologies during the 1st quarter worth $28,000. Merit Financial Group LLC bought a new stake in shares of Teledyne Technologies during the 1st quarter worth $219,000. Wedmont Private Capital lifted its stake in Teledyne Technologies by 22.0% in the first quarter. Wedmont Private Capital now owns 572 shares of the scientific and technical instruments company's stock valued at $266,000 after purchasing an additional 103 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in Teledyne Technologies by 4.1% in the first quarter. Portside Wealth Group LLC now owns 2,285 shares of the scientific and technical instruments company's stock valued at $1,137,000 after purchasing an additional 90 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction 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 sale, 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 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 valued at $8,315,662 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $588.54 on Wednesday. The stock has a market cap of $27.60 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 2.76 and a beta of 1.11. Teledyne Technologies Incorporated has a fifty-two week low of $419.00 and a fifty-two week high of $595.99. 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 stock has a fifty day moving average of $554.78 and a 200-day moving average of $515.96.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted 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 net margin of 14.54% and a return on equity of 9.96%. Teledyne Technologies's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its board has initiated a share repurchase program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective 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. UBS Group upped their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Teledyne Technologies in a research note on Saturday, September 27th. Finally, Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock 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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