Norden Group LLC Has $457,000 Stake in Teledyne Technologies Incorporated $TDY

Key Points

• Norden Group LLC reduced its holdings in Teledyne Technologies by 58.6%, now owning 893 shares valued at $457,000.
• Teledyne Technologies reported $5.20 earnings per share (EPS) for the last quarter, surpassing estimates and reflecting a 10.2% revenue increase compared to the previous year.
• The company has initiated a $2.00 billion stock buyback plan, indicating that its board believes the shares are undervalued.

Norden Group LLC reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 58.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 893 shares of the scientific and technical instruments company's stock after selling 1,264 shares during the period. Norden Group LLC's holdings in Teledyne Technologies were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Covea Finance grew its holdings in shares of Teledyne Technologies by 56.2% during the second quarter. Covea Finance now owns 45,310 shares of the scientific and technical instruments company's stock worth $23,213,000 after purchasing an additional 16,310 shares during the last quarter. Cardinal Capital Management grew its holdings in shares of Teledyne Technologies by 0.4% during the second quarter. Cardinal Capital Management now owns 7,592 shares of the scientific and technical instruments company's stock worth $3,889,000 after purchasing an additional 32 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Teledyne Technologies by 51.9% during the second quarter. AdvisorNet Financial Inc now owns 82 shares of the scientific and technical instruments company's stock worth $42,000 after purchasing an additional 28 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Teledyne Technologies by 6.4% during the second quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company's stock worth $544,000 after purchasing an additional 64 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Teledyne Technologies by 7.3% during the second quarter. Park Avenue Securities LLC now owns 2,127 shares of the scientific and technical instruments company's stock worth $1,090,000 after purchasing an additional 144 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $578.05 on Friday. The business's 50 day simple moving average is $550.49 and its 200 day simple moving average is $511.45. Teledyne Technologies Incorporated has a one year low of $419.00 and a one year high of $579.46. The stock has a market capitalization of $27.10 billion, a PE ratio of 31.83, a PEG ratio of 2.63 and a beta of 1.09. 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 (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the firm earned $4.58 earnings per share. 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. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value of $3,740,686.35. Following the completion of the transaction, the chief executive officer directly owned 10,391 shares in the company, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Stifel Nicolaus began coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. Finally, UBS Group upped their target price on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $576.57.

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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