Teledyne Technologies Incorporated $TDY Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Teledyne Technologies by 86.6%, owning a total of 12,201 shares valued at $6.25 million after buying an additional 5,663 shares in the second quarter.
• Directors Simon M. Lorne and Michael T. Smith sold significant amounts of company stock, indicating a decrease in their ownership following transactions worth over $4.5 million combined.
• Teledyne Technologies reported a 10.2% year-over-year revenue increase with earnings per share of $5.20, surpassing analysts' expectations, and announced a share buyback program of up to $2.00 billion.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 86.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,201 shares of the scientific and technical instruments company's stock after purchasing an additional 5,663 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Teledyne Technologies were worth $6,251,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC purchased a new stake in shares of Teledyne Technologies during the first quarter worth $247,000. Asset Management One Co. Ltd. increased its stake in Teledyne Technologies by 4.7% in the first 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 acquiring an additional 1,712 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Teledyne Technologies by 8.3% during the first 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 last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Teledyne Technologies by 9.7% during the first quarter. Integrated Wealth Concepts LLC now owns 2,846 shares of the scientific and technical instruments company's stock valued at $1,416,000 after buying an additional 251 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Teledyne Technologies in the first quarter worth about $6,725,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction 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 owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,021 shares of company stock valued at $8,315,662. Company insiders own 1.50% of the company's stock.

Teledyne Technologies Trading Up 0.6%

TDY stock traded up $3.36 during mid-day trading on Tuesday, reaching $571.28. The company had a trading volume of 24,491 shares, compared to its average volume of 317,657. 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 company has a market capitalization of $26.79 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The firm has a 50 day moving average of $548.96 and a 200 day moving average of $509.46. Teledyne Technologies Incorporated has a 12 month low of $419.00 and a 12 month high of $573.29.

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 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm 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, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its board has authorized a share buyback program 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 programs are generally a sign that the company's board believes its stock is 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.