Ramirez Asset Management Inc. Purchases New Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Ramirez Asset Management Inc. acquired 561 shares of Teledyne Technologies, valued at approximately $287,000, as part of their new position during the second quarter.
• The company's revenue for the last quarter was $1.51 billion, exceeding estimates, while earnings per share (EPS) reached $5.20, beating the consensus estimate by $0.15.
• Teledyne Technologies has initiated a $2.00 billion stock buyback plan, representing up to 7.7% of its shares, signaling confidence in its valuation by the Board of Directors.

Ramirez Asset Management Inc. bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 561 shares of the scientific and technical instruments company's stock, valued at approximately $287,000.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of 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 acquiring an additional 35 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Teledyne Technologies in the 1st quarter worth approximately $28,000. TCTC Holdings LLC grew its position in shares of Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 37 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Teledyne Technologies by 51.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 82 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 28 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Teledyne Technologies in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Trading Down 1.9%

Shares of NYSE TDY opened at $576.58 on Friday. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 2.73 and a beta of 1.11. Teledyne Technologies Incorporated has a 12-month low of $419.00 and a 12-month high of $595.99. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock's 50 day simple moving average is $556.05 and its 200 day simple moving average is $516.93.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.58 EPS. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. Equities research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price for the company. Barclays assumed coverage on Teledyne Technologies in a research report on Wednesday. They issued an "equal weight" rating and a $606.00 target price for the company. Morgan Stanley lifted their target price on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. UBS Group raised their price target on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Teledyne Technologies in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $580.25.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies 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 sale, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. The trade was a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction on Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock valued at $8,315,662 in the last quarter. 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.

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