Teledyne Technologies Incorporated $TDY Shares Purchased by Bowen Hanes & Co. Inc.

Key Points

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Bowen Hanes & Co. Inc. grew its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,387 shares of the scientific and technical instruments company's stock after purchasing an additional 1,518 shares during the quarter. Teledyne Technologies makes up about 2.6% of Bowen Hanes & Co. Inc.'s portfolio, making the stock its 6th biggest holding. Bowen Hanes & Co. Inc. owned approximately 0.39% of Teledyne Technologies worth $91,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC acquired a new stake in Teledyne Technologies in the 1st quarter valued at about $247,000. Asset Management One Co. Ltd. grew its position in shares of 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 purchasing an additional 1,712 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Teledyne Technologies by 8.3% in 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 purchasing an additional 681 shares during the last quarter. SG Americas Securities LLC purchased a new position in Teledyne Technologies during the first quarter worth approximately $6,725,000. Finally, QRG Capital Management Inc. purchased a new position in Teledyne Technologies during the first quarter worth approximately $275,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

TDY has been the topic of several recent research reports. Morgan Stanley boosted 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. Needham & Company LLC lowered their price target 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. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. TD Securities reissued a "buy" rating and set a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Finally, Stifel Nicolaus began coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Teledyne Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 6,311 shares of the business'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 completion of the transaction, the director directly owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 value 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 represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Up 1.4%

Teledyne Technologies stock traded up $7.5850 during midday trading on Friday, reaching $550.0250. 146,903 shares of the stock traded hands, compared to its average volume of 327,359. The company has a 50-day simple moving average of $531.35 and a two-hundred day simple moving average of $502.34. Teledyne Technologies Incorporated has a 12-month low of $416.00 and a 12-month high of $570.56. The firm has a market cap of $25.79 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. 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 announced its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period last year, the business posted $4.58 EPS. Teledyne Technologies's revenue for the quarter 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. 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 approved 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 purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board 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.