Janney Montgomery Scott LLC lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,161 shares of the scientific and technical instruments company's stock after buying an additional 1,593 shares during the period. Janney Montgomery Scott LLC's holdings in Teledyne Technologies were worth $9,817,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in TDY. Golden State Wealth Management LLC lifted its stake in shares of Teledyne Technologies by 205.9% during 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 buying an additional 35 shares during the period. NBC Securities Inc. acquired a new stake in shares of Teledyne Technologies during the first quarter worth $28,000. TCTC Holdings LLC lifted its position in Teledyne Technologies by 97.4% during the first 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. City Holding Co. purchased a new stake in Teledyne Technologies in the first quarter valued at $38,000. Finally, AdvisorNet Financial Inc grew its position in Teledyne Technologies by 51.9% during the 2nd quarter. AdvisorNet Financial Inc now owns 82 shares of the scientific and technical instruments company's stock worth $42,000 after purchasing an additional 28 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.
Teledyne Technologies Stock Up 0.9%
Shares of NYSE TDY opened at $587.15 on Friday. Teledyne Technologies Incorporated has a 12-month low of $419.00 and a 12-month high of $590.09. The stock has a market cap of $27.53 billion, a PE ratio of 32.33, a P/E/G ratio of 2.73 and a beta of 1.11. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $553.33 and a 200 day moving average of $514.71.
Teledyne Technologies (NYSE:TDY - Get Free Report) last announced 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 company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the company earned $4.58 EPS. Teledyne Technologies's revenue was up 10.2% compared to the same quarter last year. 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, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.
Teledyne Technologies announced that its board has authorized a stock repurchase 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 reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Activity
In other news, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction that occurred on 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 owned 61,913 shares of the company's stock, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 directly owned 10,391 shares of the company's stock, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,021 shares of company stock valued at $8,315,662 in the last 90 days. Company insiders own 1.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on TDY shares. Morgan Stanley lifted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. UBS Group lifted their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Teledyne Technologies in a research note on Saturday, September 27th. Finally, Stifel Nicolaus started coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $576.57.
Read Our Latest Analysis on Teledyne Technologies
Teledyne Technologies Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding TDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teledyne Technologies Incorporated (NYSE:TDY - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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