1,056 Shares in Teledyne Technologies Incorporated (NYSE:TDY) Bought by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG has invested approximately $523,000 in Teledyne Technologies by acquiring 1,056 shares during the first quarter.
• Teledyne Technologies reported earnings of $5.20 per share for the last quarter, surpassing analysts’ expectations and showing a 10.2% increase in revenue year-over-year.
• The company has initiated a $2.00 billion share buyback plan as part of its efforts to repurchase up to 7.7% of its shares, signaling confidence in its stock valuation.

Raiffeisen Bank International AG bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,056 shares of the scientific and technical instruments company's stock, valued at approximately $523,000.

A number of other institutional investors have also added to or reduced their stakes in TDY. OneDigital Investment Advisors LLC bought a new position in Teledyne Technologies during the first quarter worth about $247,000. Asset Management One Co. Ltd. raised its stake in shares of Teledyne Technologies by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock valued at $19,061,000 after acquiring an additional 1,712 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Teledyne Technologies by 8.3% in the first quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company's stock valued at $4,436,000 after acquiring an additional 681 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Teledyne Technologies in the first quarter valued at approximately $6,725,000. Finally, QRG Capital Management Inc. bought a new position in shares of Teledyne Technologies in the first quarter valued at approximately $275,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer directly owned 10,391 shares in the company, valued at $5,771,265.31. This trade represents a 39.33% decrease in their position. 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 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 completion of the transaction, the director owned 61,913 shares in the company, valued at $34,029,861.32. This represents 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 worth $8,315,662 in the last three months. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of research analyst reports. TD Securities reiterated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price for the company. 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 note on Thursday, July 24th. 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 note on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $576.57.

Teledyne Technologies Trading Down 0.7%

TDY stock traded down $3.78 during trading on Friday, hitting $546.35. The company had a trading volume of 207,467 shares, compared to its average volume of 490,297. 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 firm has a 50-day moving average price of $522.15 and a 200-day moving average price of $500.15. Teledyne Technologies Incorporated has a 12 month low of $404.75 and a 12 month high of $570.56. The stock has a market cap of $25.62 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.56 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company posted $4.58 EPS. Teledyne Technologies's revenue was up 10.2% on a year-over-year basis. As a group, analysts predict 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 repurchase plan 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 buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

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.