State of New Jersey Common Pension Fund D Sells 1,415 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Teledyne Technologies by 8.5%, selling 1,415 shares and leaving it with 15,218 shares worth $7,574,000.
• Teledyne Technologies announced a $2 billion stock buyback program, indicating that the company's board believes its stock is currently undervalued.
• Analysts have mostly assigned a "buy" rating to Teledyne Technologies, with price targets ranging from $550.00 to $630.00, suggesting strong bullish sentiment.

State of New Jersey Common Pension Fund D reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 8.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,218 shares of the scientific and technical instruments company's stock after selling 1,415 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Teledyne Technologies were worth $7,574,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock worth $26,000 after purchasing an additional 35 shares during the last quarter. Quarry LP bought a new position in shares of Teledyne Technologies in the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $28,000. Ancora Advisors LLC lifted its holdings in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after acquiring an additional 50 shares during the period. Finally, TCTC Holdings LLC grew its stake in 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 purchasing an additional 37 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the sale, the director directly owned 51,328 shares in the company, valued at $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value of $3,740,686.35. Following the transaction, the chief executive officer directly owned 10,391 shares in the company, valued at $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock worth $8,315,662 in the last 90 days. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Price Performance

NYSE TDY traded up $7.5850 during trading hours on Friday, reaching $550.0250. 95,620 shares of the stock traded hands, compared to its average volume of 327,013. 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 simple moving average of $530.09 and a two-hundred day simple moving average of $502.09. Teledyne Technologies Incorporated has a 1 year low of $416.00 and a 1 year high of $570.56. The company has a market cap of $25.79 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS 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 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 was up 10.2% on a year-over-year basis. During the same period in the prior year, the company 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. On average, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

TDY has been the topic of several research reports. 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 on the stock. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. UBS Group lifted their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley boosted 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. Finally, Needham & Company LLC lowered their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and a consensus price target of $576.57.

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.