Kayne Anderson Rudnick Investment Management LLC Increases Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Teledyne Technologies by 10.9%, now holding approximately 1.46 million shares valued at around $726 million, making it the firm's 7th largest investment.
• Teledyne Technologies reported $5.20 earnings per share for its latest quarter, exceeding estimates, with revenue rising by 10.2% year-over-year to $1.51 billion.
• The company's board approved a $2.00 billion share buyback plan, indicating a belief that the company's stock may be undervalued.

Kayne Anderson Rudnick Investment Management LLC lifted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,459,422 shares of the scientific and technical instruments company's stock after acquiring an additional 143,062 shares during the period. Teledyne Technologies accounts for about 1.8% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 7th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 3.11% of Teledyne Technologies worth $726,369,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in shares of Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock worth $26,000 after acquiring an additional 35 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Teledyne Technologies in the 1st quarter worth approximately $28,000. Quarry LP purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $28,000. TCTC Holdings LLC grew its stake in shares of Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 37 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 50 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TDY shares. UBS Group upped their price target on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Morgan Stanley upped their price target 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. Finally, 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 on the stock. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $576.57.

Insider Transactions at Teledyne Technologies

In other news, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction 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 transaction, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. This trade represents a 9.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO George C. Bobb III sold 6,735 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 10,391 shares in the company, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock worth $8,315,662 in the last ninety days. Insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Down 0.7%

TDY traded down $3.62 during trading on Wednesday, hitting $541.15. 178,759 shares of the company's stock traded hands, compared to its average volume of 305,894. The company's 50 day simple moving average is $534.55 and its two-hundred day simple moving average is $502.96. 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 Incorporated has a 12-month low of $416.00 and a 12-month high of $570.56. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 2.53 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $1.51 billion for 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%.The company's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business 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. Analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its board has initiated a share buyback program on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is 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.