Public Sector Pension Investment Board Lowers Stock Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• The Public Sector Pension Investment Board significantly reduced its holdings in Teledyne Technologies by 74.1%, now owning only 7,187 shares after selling 20,513 shares.
• Teledyne reported $5.20 EPS for its latest quarter, exceeding analysts' estimates of $5.05 EPS, along with a revenue increase of 10.2% year-over-year.
• Institional ownership in Teledyne Technologies remains high, with 91.58% of shares controlled by hedge funds and other institutions.

Public Sector Pension Investment Board decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 74.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,187 shares of the scientific and technical instruments company's stock after selling 20,513 shares during the period. Public Sector Pension Investment Board's holdings in Teledyne Technologies were worth $3,577,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TDY. Golden State Wealth Management LLC boosted its stake in shares of Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock worth $26,000 after buying an additional 35 shares during the period. Quarry LP acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth about $28,000. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies during the first quarter worth about $28,000. Ancora Advisors LLC boosted its stake in shares of Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 50 shares during the period. Finally, TCTC Holdings LLC lifted its position in Teledyne Technologies by 97.4% in the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. UBS Group raised their price objective 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. Finally, TD Securities restated a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $7.5850 during mid-day trading on Friday, reaching $550.0250. The company had a trading volume of 146,903 shares, compared to its average volume of 327,359. Teledyne Technologies Incorporated has a 1 year low of $416.00 and a 1 year high of $570.56. 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 capitalization of $25.79 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.51 and a beta of 1.07. The stock's 50-day simple moving average is $530.09 and its 200-day simple moving average is $502.09.

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 earnings per share (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 company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period last year, the company posted $4.58 earnings per share. The firm'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. On average, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction that occurred on Monday, July 28th. The shares were 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 directly owned 51,328 shares of the company's stock, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction that occurred 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 completion of the sale, the director directly owned 61,913 shares of the company's stock, valued at $34,029,861.32. The trade was 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 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

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.