Natixis Advisors LLC Purchases 19,242 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Key Points

• Natixis Advisors LLC increased its stake in Teledyne Technologies by 13.8%, acquiring an additional 19,242 shares, bringing its total ownership to 158,327 shares valued at $78.8 million.
• Teledyne Technologies reported $5.20 EPS for the last quarter, exceeding estimates and reflecting a 10.2% year-over-year revenue growth.
• Analysts have issued a consensus rating of "Moderate Buy" for Teledyne Technologies, with a price target averaging around $576.57.

Natixis Advisors LLC grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,327 shares of the scientific and technical instruments company's stock after buying an additional 19,242 shares during the period. Natixis Advisors LLC owned about 0.34% of Teledyne Technologies worth $78,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tidal Investments LLC increased its stake in shares of Teledyne Technologies by 0.4% in the fourth quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company's stock valued at $2,556,000 after purchasing an additional 22 shares during the period. Keel Point LLC boosted its stake in Teledyne Technologies by 4.5% during the 4th quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company's stock valued at $247,000 after purchasing an additional 23 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake 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 valued at $3,254,000 after purchasing an additional 23 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake 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 in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake 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 in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 1.2%

Shares of Teledyne Technologies stock traded down $6.46 during midday trading on Friday, hitting $544.56. The company's stock had a trading volume of 446,276 shares, compared to its average volume of 463,371. The firm has a market capitalization of $25.53 billion, a P/E ratio of 29.99, a PEG ratio of 2.59 and a beta of 1.07. The stock has a 50-day simple moving average of $515.43 and a 200-day simple moving average of $496.97. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. Teledyne Technologies Incorporated has a 1-year low of $397.78 and a 1-year high of $570.56.

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, topping the consensus estimate of $5.05 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. Teledyne Technologies's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.58 earnings per share. As a group, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at Teledyne Technologies

In other news, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the sale, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a 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 on Friday, July 25th. The stock was sold at an average price of $549.64, for a total value of $3,468,778.04. Following the sale, 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 sold a total of 15,021 shares of company stock valued at $8,315,662 over the last quarter. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. 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. Stifel Nicolaus began coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. UBS Group raised 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, Needham & Company LLC reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Teledyne Technologies currently has an average 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.