Russell Investments Group Ltd. Increases Stock Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Russell Investments Group Ltd. increased its holdings in Teledyne Technologies by 84.0%, owning 41,028 shares worth approximately $20.41 million at the end of the first quarter.
• Teledyne Technologies announced a $2 billion share repurchase program, allowing the company to buy back up to 7.7% of its stock, indicating that the board believes its shares may be undervalued.
• Analysts have set a consensus price target of $576.57 for Teledyne Technologies, with a majority offering a "buy" rating despite some recent adjustments to price targets.

Russell Investments Group Ltd. raised its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 84.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,028 shares of the scientific and technical instruments company's stock after purchasing an additional 18,736 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Teledyne Technologies worth $20,409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC acquired a new stake in shares of Teledyne Technologies in the 1st quarter valued at approximately $247,000. Asset Management One Co. Ltd. lifted its holdings in shares of Teledyne Technologies by 4.7% in the 1st 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 buying an additional 1,712 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Teledyne Technologies by 8.3% in the 1st 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 buying an additional 681 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Teledyne Technologies in the 1st quarter valued at approximately $6,725,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Teledyne Technologies in the 1st quarter valued at approximately $275,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of the business'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 completion of the transaction, the chief executive officer directly owned 10,391 shares of the company's stock, valued at $5,771,265.31. The trade was a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the transaction, the director directly owned 51,328 shares of the company's stock, valued at approximately $28,748,812.80. This trade represents a 3.71% 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 over the last three months. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TDY has been the subject of several recent analyst reports. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus initiated coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target for the company. TD Securities reissued a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. Morgan Stanley lifted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, UBS Group lifted their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Teledyne Technologies has an average rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Price Performance

TDY stock traded up $9.2450 during midday trading on Friday, hitting $551.6850. 32,566 shares of the stock were exchanged, compared to its average volume of 326,611. The stock's 50-day moving average price is $530.09 and its 200-day moving average price is $502.09. The stock has a market cap of $25.87 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 2.51 and a beta of 1.07. Teledyne Technologies Incorporated has a fifty-two week low of $416.00 and a fifty-two week high of $570.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66.

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, topping the consensus estimate 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 return on equity of 9.96% and a net margin of 14.54%.Teledyne Technologies's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $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. Research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, July 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board 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.