Patton Fund Management Inc. Makes New Investment in Teledyne Technologies Incorporated $TDY

Key Points

• Patton Fund Management Inc. has made a new investment in Teledyne Technologies, acquiring 479 shares worth approximately $245,000 during the 2nd quarter.
• Teledyne Technologies reported a strong quarterly performance, with an EPS of $5.20, surpassing analysts' expectations and showing a revenue increase of 10.2% year-over-year.
• The company has initiated a $2.00 billion share repurchase program, allowing it to buy up to 7.7% of its outstanding shares, indicating management's belief that the stock is undervalued.

Patton Fund Management Inc. purchased a new position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 479 shares of the scientific and technical instruments company's stock, valued at approximately $245,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew 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 worth $26,000 after purchasing an additional 35 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies during the 1st quarter valued at about $28,000. TCTC Holdings LLC boosted its position in shares of Teledyne Technologies by 97.4% during the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 37 shares in the last quarter. City Holding Co. acquired a new stake in shares of Teledyne Technologies during the 1st quarter valued at about $38,000. Finally, AdvisorNet Financial Inc boosted its position in shares of Teledyne Technologies by 51.9% during the 2nd quarter. AdvisorNet Financial Inc now owns 82 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 28 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 2.1%

Teledyne Technologies stock opened at $578.05 on Friday. The stock has a market capitalization of $27.10 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. Teledyne Technologies Incorporated has a twelve month low of $419.00 and a twelve month high of $579.46. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $550.49 and a 200-day moving average of $511.63.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the company posted $4.58 earnings per share. The company's revenue for the quarter 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. On average, equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies announced that its Board of Directors has initiated a share repurchase 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 purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TDY. Stifel Nicolaus began 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 on the stock. Morgan Stanley lifted their target price on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, UBS Group lifted their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and an average price target of $576.57.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 10,391 shares of the company's stock, valued at $5,771,265.31. This represents a 39.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,021 shares of company stock worth $8,315,662 in the last quarter. 1.50% of the stock is owned by insiders.

Teledyne Technologies 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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