Raymond James Financial Inc. Buys 18,129 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Raymond James Financial Inc. increased its stake in Teledyne Technologies by 15.8%, owning approximately 132,976 shares valued at $66.18 million after purchasing an additional 18,129 shares.
• Teledyne Technologies reported $5.20 EPS for the quarter, surpassing estimates by $0.15, with revenues of $1.51 billion, up 10.2% year-over-year.
• The company announced a $2 billion share buyback program, allowing it to repurchase up to 7.7% of its stock, indicating management believes it is undervalued.

Raymond James Financial Inc. lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 15.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,976 shares of the scientific and technical instruments company's stock after buying an additional 18,129 shares during the period. Raymond James Financial Inc. owned about 0.28% of Teledyne Technologies worth $66,183,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TDY. GAMMA Investing LLC increased its holdings in shares of Teledyne Technologies by 61,911.9% during the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock worth $247,220,000 after buying an additional 495,914 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Teledyne Technologies by 19,605.0% in the fourth 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 period. Point72 Asset Management L.P. acquired a new stake in Teledyne Technologies in the fourth quarter valued at $143,524,000. Pacer Advisors Inc. increased its holdings in 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 valued at $90,385,000 after purchasing an additional 176,290 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Teledyne Technologies in the fourth quarter valued at $61,939,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 1.3%

Shares of NYSE:TDY traded down $7.3250 during midday trading on Monday, hitting $543.7350. 161,153 shares of the company's stock were exchanged, compared to its average volume of 326,300. Teledyne Technologies Incorporated has a 12 month low of $416.00 and a 12 month high of $570.56. The company has a market cap of $25.50 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.56 and a beta of 1.07. 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 stock has a 50 day moving average price of $531.35 and a 200-day moving average price of $502.19.

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 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $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. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its board has authorized a stock buyback program 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 programs are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction that occurred on 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 owned 61,913 shares of the company's stock, valued at $34,029,861.32. This trade represents a 9.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the transaction, the chief executive officer directly owned 10,391 shares in the company, valued at approximately $5,771,265.31. This represents a 39.33% decrease in their position. 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 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TDY shares. Morgan Stanley increased 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. Stifel Nicolaus started coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. UBS Group increased their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a 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. According to data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

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.