Teledyne Technologies Incorporated $TDY Shares Acquired 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 grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 86.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,201 shares of the scientific and technical instruments company's stock after acquiring 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 filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of Teledyne Technologies by 205.9% in 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 acquiring an additional 35 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Teledyne Technologies during the 1st quarter worth $28,000. TCTC Holdings LLC lifted its position in shares of Teledyne Technologies by 97.4% during the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 37 shares during the last quarter. City Holding Co. purchased a new stake in shares of Teledyne Technologies during the 1st quarter worth $38,000. Finally, WPG Advisers LLC purchased a new stake in shares of Teledyne Technologies during the 1st quarter worth $44,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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 transaction, the director directly owned 51,328 shares in the company, valued at approximately $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Simon M. Lorne sold 6,311 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the transaction, the director owned 61,913 shares in the company, valued at $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $1.12 on Monday, reaching $566.53. 117,738 shares of the stock were exchanged, compared to its average volume of 318,531. Teledyne Technologies Incorporated has a 1-year low of $419.00 and a 1-year high of $570.56. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $548.34 and a two-hundred day moving average price of $508.88. The firm has a market capitalization of $26.56 billion, a PE ratio of 31.20, a PEG ratio of 2.62 and a beta of 1.09.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) 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 analyst estimates of $1.47 billion. During the same period in the previous year, the business posted $4.58 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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

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.