Teledyne Technologies Incorporated $TDY Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Teledyne Technologies by 30.1%, owning approximately $457 million worth of shares after selling 394,718 during the first quarter.
• The company's board has initiated a $2 billion stock repurchase plan, allowing the repurchase of up to 7.7% of its outstanding shares, indicating leadership believes the stock is undervalued.
• Teledyne reported an EPS of $5.20 for the last quarter, beating expectations, with a revenue of $1.51 billion, which represents a 10.2% annual increase.

T. Rowe Price Investment Management Inc. reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 30.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 918,343 shares of the scientific and technical instruments company's stock after selling 394,718 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.96% of Teledyne Technologies worth $457,069,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Golden State Wealth Management LLC lifted its holdings in 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 during the last quarter. Quarry LP bought a new position in shares of Teledyne Technologies during the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies during the 1st quarter worth approximately $28,000. Ancora Advisors LLC lifted its holdings in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 50 shares during the last quarter. Finally, TCTC Holdings LLC boosted its position in 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 valued at $37,000 after purchasing an additional 37 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TDY has been the topic of several analyst reports. TD Securities reaffirmed a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. UBS Group upped their price target 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. Needham & Company LLC cut 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 report on Thursday, April 24th. Morgan Stanley boosted their target price on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Teledyne Technologies presently has an average rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $7.5850 during midday trading on Friday, reaching $550.0250. 146,903 shares of the company were exchanged, compared to its average volume of 337,395. The company's 50 day moving average price is $531.35 and its two-hundred day moving average price is $502.34. The company has a market cap of $25.79 billion, a P/E ratio of 30.29, a PEG ratio of 2.52 and a beta of 1.07. Teledyne Technologies Incorporated has a 12 month low of $416.00 and a 12 month high of $570.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period last year, the firm posted $4.58 earnings per share. The business's revenue 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. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

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

Insider Activity

In related news, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 10,391 shares in the company, valued at approximately $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. In the last ninety days, 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 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.