RVW Wealth LLC Purchases New Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Key Points

• RVW Wealth LLC acquired a new stake in Teledyne Technologies, purchasing 543 shares for approximately $270,000 in the first quarter.
• Teledyne Technologies reported a 10.2% year-over-year revenue increase for the latest quarter, with an EPS of $5.20 surpassing analysts' expectations.
• The company has initiated a $2.00 billion share buyback plan, allowing it to repurchase up to 7.7% of its stock, which signals confidence from management in the company's valuation.

RVW Wealth LLC acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 543 shares of the scientific and technical instruments company's stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDY. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $143,524,000. Pacer Advisors Inc. raised its stake in shares of Teledyne Technologies by 3,319.3% in the 1st 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 in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $61,939,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDY has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Morgan Stanley increased 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. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective on the stock. Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities reiterated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Teledyne Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $576.57.

Insider Activity

In other news, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock worth $8,315,662 over the last three months. Corporate insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Performance

NYSE TDY traded down $6.46 on Friday, hitting $544.56. The stock had a trading volume of 446,276 shares, compared to its average volume of 463,371. Teledyne Technologies Incorporated has a one year low of $397.78 and a one year high of $570.56. 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 stock has a market cap of $25.53 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 2.59 and a beta of 1.07. The company's 50-day moving average is $515.43 and its two-hundred day moving average is $496.97.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS 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 prior year, the firm earned $4.58 EPS. Teledyne Technologies's quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a share buyback program on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.