Select Equity Group L.P. Trims Stock Position in Teledyne Technologies Incorporated $TDY

Key Points

• Select Equity Group L.P. reduced its stake in Teledyne Technologies by 21.2%, now holding 398,469 shares valued at approximately $198.32 million.
• Teledyne Technologies reported earnings of $5.20 per share, surpassing expectations, with revenue of $1.51 billion for the last quarter, reflecting a year-over-year increase of 10.2%.
• The company has authorized a $2.00 billion stock buyback program, indicating management's belief that the company's shares are undervalued.

Select Equity Group L.P. lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 21.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 398,469 shares of the scientific and technical instruments company's stock after selling 106,906 shares during the period. Select Equity Group L.P. owned 0.85% of Teledyne Technologies worth $198,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TDY. Golden State Wealth Management LLC boosted its holdings 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 valued at $26,000 after buying an additional 35 shares during the period. NBC Securities Inc. purchased a new stake in shares of Teledyne Technologies in the 1st quarter valued at approximately $28,000. TCTC Holdings LLC lifted 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 valued at $37,000 after acquiring an additional 37 shares in the last quarter. City Holding Co. purchased a new stake in Teledyne Technologies in the 1st quarter worth approximately $38,000. Finally, WPG Advisers LLC acquired a new position in shares of Teledyne Technologies during the 1st quarter worth $44,000. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Up 0.1%

Shares of TDY stock traded up $0.80 during trading on Wednesday, reaching $545.56. The company's stock had a trading volume of 221,584 shares, compared to its average volume of 321,013. The business has a fifty day moving average price of $542.31 and a 200-day moving average price of $505.70. 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 company has a market cap of $25.58 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.09. Teledyne Technologies Incorporated has a one year low of $416.00 and a one year high of $570.56.

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

Teledyne Technologies declared that its board has authorized a share buyback plan on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley raised their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $576.57.

Insider Buying and Selling

In other news, Director Michael T. Smith sold 1,975 shares of the stock in a transaction dated Monday, July 28th. The shares were 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 owned 51,328 shares of the company's stock, valued at approximately $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,468,778.04. Following the sale, the director directly owned 61,913 shares of the company's stock, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,021 shares of company stock worth $8,315,662. Corporate insiders own 1.50% of the company's stock.

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.