Assenagon Asset Management S.A. Has $80.69 Million Stake 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. increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 157,495 shares of the scientific and technical instruments company's stock after buying an additional 38,540 shares during the quarter. Assenagon Asset Management S.A. owned about 0.34% of Teledyne Technologies worth $80,686,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Teledyne Technologies by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,538 shares of the scientific and technical instruments company's stock worth $3,254,000 after acquiring an additional 23 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Teledyne Technologies by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 947 shares of the scientific and technical instruments company's stock valued at $471,000 after acquiring an additional 24 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Teledyne Technologies by 3.2% in the first quarter. HighPoint Advisor Group LLC now owns 776 shares of the scientific and technical instruments company's stock valued at $359,000 after buying an additional 24 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in shares of Teledyne Technologies by 3.9% in the first quarter. Sagespring Wealth Partners LLC now owns 663 shares of the scientific and technical instruments company's stock valued at $330,000 after buying an additional 25 shares during the last quarter. Finally, First Hawaiian Bank increased its stake in shares of Teledyne Technologies by 0.7% during the first quarter. First Hawaiian Bank now owns 3,670 shares of the scientific and technical instruments company's stock worth $1,827,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the sale, the director directly owned 51,328 shares of the company's stock, valued at $28,748,812.80. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the business'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 completion of the sale, the chief executive officer owned 10,391 shares of the company's stock, valued at $5,771,265.31. The trade was a 39.33% 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 valued at $8,315,662. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TDY. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target on the stock. 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. Finally, UBS Group upped their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $1.69 during mid-day trading on Monday, hitting $567.10. The stock had a trading volume of 249,598 shares, compared to its average volume of 319,294. The stock has a market capitalization of $26.59 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a 50 day simple moving average of $548.34 and a 200-day simple moving average of $508.88. Teledyne Technologies Incorporated has a 52 week low of $419.00 and a 52 week 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.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly 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 company 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%. Teledyne Technologies's revenue was up 10.2% on a year-over-year basis. During the same period in the previous 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, research analysts expect 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 initiated a stock repurchase plan 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 plans are often a sign that the company's management believes its shares are undervalued.

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.