Teledyne Technologies Incorporated $TDY Shares Acquired by Board of the Pension Protection Fund

Key Points

• The Board of the Pension Protection Fund significantly increased its stake in Teledyne Technologies by 1,350% in Q2, acquiring an additional 2,700 shares, bringing its total holdings to 2,900 shares valued at $1.486 million.
• Teledyne Technologies achieved a 10.2% year-over-year revenue growth in its latest quarter, reporting earnings per share of $5.20, which surpassed analysts' expectations.
• The company has authorized a $2 billion stock buyback plan, reflecting confidence from its board in the stock's valuation, allowing repurchase of up to 7.7% of its shares.

Board of the Pension Protection Fund grew its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1,350.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the scientific and technical instruments company's stock after buying an additional 2,700 shares during the quarter. Teledyne Technologies accounts for 1.6% of Board of the Pension Protection Fund's holdings, making the stock its 19th largest holding. Board of the Pension Protection Fund's holdings in Teledyne Technologies were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TDY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Teledyne Technologies by 56.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 640,572 shares of the scientific and technical instruments company's stock valued at $318,819,000 after buying an additional 232,401 shares in the last quarter. Pacer Advisors Inc. grew its stake in Teledyne Technologies by 3,319.3% during the 1st quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock worth $90,385,000 after purchasing an additional 176,290 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Teledyne Technologies by 10.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock worth $726,369,000 after purchasing an additional 143,062 shares in the last quarter. Vanguard Group Inc. grew its stake in Teledyne Technologies by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock worth $2,846,053,000 after purchasing an additional 105,811 shares in the last quarter. Finally, Greenhouse Funds LLLP acquired a new position in Teledyne Technologies during the 1st quarter worth $48,532,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction dated Monday, July 28th. The stock was 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 approximately $28,748,812.80. The trade was a 3.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the completion of the sale, the director directly owned 61,913 shares of the company's stock, 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. Insiders sold 15,021 shares of company stock valued at $8,315,662 in the last ninety days. Insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Down 1.6%

Shares of NYSE TDY opened at $567.27 on Friday. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. The business has a 50-day moving average of $556.50 and a two-hundred day moving average of $517.36. Teledyne Technologies Incorporated has a 1 year low of $419.00 and a 1 year high of $595.99.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.Teledyne Technologies's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business 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, analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its board has authorized a stock buyback plan on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Teledyne Technologies in a research note on Wednesday. Morgan Stanley boosted their target price on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Barclays assumed coverage on Teledyne Technologies in a research note on Wednesday. They set an "equal weight" rating and a $606.00 target price for the company. Finally, UBS Group boosted their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Teledyne Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $580.25.

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.

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