Assenagon Asset Management S.A. Grows Position in Teledyne Technologies Incorporated $TDY

Key Points

• Assenagon Asset Management S.A. increased its stake in Teledyne Technologies by 32.4%, owning 157,495 shares valued at approximately $80.7 million.
• Teledyne Technologies reported a quarterly EPS of $5.20, exceeding estimates and showing a 10.2% year-over-year revenue increase to $1.51 billion.
• The company's board has authorized a stock repurchase plan allowing for the reacquisition of up to $2 billion worth of shares, indicating management's belief that the shares are undervalued.

Assenagon Asset Management S.A. raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 32.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,495 shares of the scientific and technical instruments company's stock after acquiring an additional 38,540 shares during the period. Assenagon Asset Management S.A. owned approximately 0.34% of Teledyne Technologies worth $80,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings 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 purchasing an additional 35 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Teledyne Technologies in the first quarter worth about $28,000. TCTC Holdings LLC grew its holdings 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 worth $37,000 after acquiring an additional 37 shares in the last quarter. City Holding Co. bought a new position in Teledyne Technologies during the 1st quarter worth about $38,000. Finally, WPG Advisers LLC bought a new position in Teledyne Technologies during the 1st quarter worth about $44,000. Institutional investors own 91.58% of the company's stock.

Insider Activity at Teledyne Technologies

In related news, Director Simon M. Lorne sold 6,311 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was 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 directly owned 61,913 shares of the company's stock, valued at $34,029,861.32. This represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction on 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 transaction, the director directly owned 51,328 shares in the company, valued at $28,748,812.80. The trade was a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock valued at $8,315,662 over the last three months. 1.50% of the stock is owned by corporate insiders.

Teledyne Technologies Trading Up 0.1%

Shares of TDY stock traded up $0.30 on Tuesday, hitting $568.22. 98,339 shares of the stock traded hands, compared to its average volume of 318,053. The firm's 50-day moving average price is $548.96 and its two-hundred day moving average price is $509.46. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66. The stock has a market capitalization of $26.64 billion, a PE ratio of 31.29, a PEG ratio of 2.62 and a beta of 1.09. Teledyne Technologies Incorporated has a twelve month low of $419.00 and a twelve month high of $573.29.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share 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 analysts' expectations 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 was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its board has approved a stock 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 reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on TDY. Morgan Stanley increased their price target 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. UBS Group increased 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 began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

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.