Rafferty Asset Management LLC Sells 3,342 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Rafferty Asset Management LLC reduced its stake in Teledyne Technologies by 21.1%, selling 3,342 shares in the first quarter, now holding 12,520 shares worth $6.23 million.
• Teledyne Technologies reported $5.20 earnings per share for the last quarter, exceeding analysts' estimates by $0.15, with revenues up by 10.2% year-over-year.
• The company's Board approved a $2 billion share buyback plan, allowing it to repurchase up to 7.7% of its outstanding shares, indicating a belief that the stock is undervalued.

Rafferty Asset Management LLC decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,520 shares of the scientific and technical instruments company's stock after selling 3,342 shares during the period. Rafferty Asset Management LLC's holdings in Teledyne Technologies were worth $6,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TDY. GAMMA Investing LLC lifted its stake in Teledyne Technologies by 61,911.9% in the 1st quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock valued at $247,220,000 after purchasing an additional 495,914 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in Teledyne Technologies by 19,605.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 365,133 shares of the scientific and technical instruments company's stock valued at $169,469,000 after purchasing an additional 363,280 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Teledyne Technologies in the 4th quarter valued at approximately $143,524,000. Pacer Advisors Inc. grew its stake in shares of Teledyne Technologies by 3,319.3% in the first quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock worth $90,385,000 after purchasing an additional 176,290 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Teledyne Technologies by 10.9% in the first 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 purchasing an additional 143,062 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Insider Activity at Teledyne Technologies

In related news, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction dated 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 transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the transaction, the director directly owned 61,913 shares in the company, 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 have sold 15,021 shares of company stock valued at $8,315,662 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Down 0.8%

Shares of NYSE TDY traded down $4.59 during mid-day trading on Friday, reaching $537.50. 269,882 shares of the company's stock traded hands, compared to its average volume of 276,048. The stock has a market cap of $25.20 billion, a P/E ratio of 29.60, a PEG ratio of 2.50 and a beta of 1.09. The business has a 50-day simple moving average of $536.66 and a 200 day simple moving average of $503.40. 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.

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, beating analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business's revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $4.58 earnings per share. 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, analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies announced that its board has initiated a stock repurchase 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 buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TDY. Morgan Stanley boosted their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. UBS Group increased their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Six research 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $576.57.

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.