Phraction Management LLC Trims Stock Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Phraction Management LLC reduced its stake in Teledyne Technologies by 11.4%, now holding 10,161 shares, which account for 1.7% of its portfolio.
• Teledyne Technologies has received positive analyst coverage, with several firms including UBS Group and Stifel Nicolaus issuing buy ratings and increasing target prices.
• Teledyne announced a $2.00 billion share buyback plan, indicating that the company's board believes its shares are undervalued.

Phraction Management LLC lowered its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,161 shares of the scientific and technical instruments company's stock after selling 1,310 shares during the quarter. Teledyne Technologies accounts for 1.7% of Phraction Management LLC's portfolio, making the stock its 23rd biggest holding. Phraction Management LLC's holdings in Teledyne Technologies were worth $5,206,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Teledyne Technologies by 56.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 640,572 shares of the scientific and technical instruments company's stock valued at $318,819,000 after purchasing an additional 232,401 shares during the period. Pacer Advisors Inc. boosted its position in Teledyne Technologies by 3,319.3% in the 1st quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock valued at $90,385,000 after buying an additional 176,290 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in Teledyne Technologies by 10.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock worth $726,369,000 after acquiring an additional 143,062 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Teledyne Technologies by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock worth $2,846,053,000 after acquiring an additional 105,811 shares during the period. Finally, Greenhouse Funds LLLP bought a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $48,532,000. Institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

TDY has been the topic of several research analyst reports. Stifel Nicolaus initiated coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective on the stock. Morgan Stanley lifted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, UBS Group increased their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Price Performance

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

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the firm earned $4.58 EPS. The company's quarterly 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. Research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in outstanding 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the transaction, the director directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the sale, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. The trade was a 39.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock valued at $8,315,662 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

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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