Teledyne Technologies Incorporated $TDY Shares Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its holdings in Teledyne Technologies by 18.9% in Q1, owning 3,662 shares worth approximately $1.82 million.
• Teledyne Technologies reported better-than-expected earnings of $5.20 EPS, exceeding the consensus estimate of $5.05 and achieving a revenue of $1.51 billion.
• The company has authorized a $2 billion stock repurchase plan, reflecting the board's belief that its shares are undervalued.

Candriam S.C.A. boosted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 18.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,662 shares of the scientific and technical instruments company's stock after buying an additional 581 shares during the quarter. Candriam S.C.A.'s holdings in Teledyne Technologies were worth $1,823,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Banco BTG Pactual S.A. bought a new stake in shares of Teledyne Technologies in the 1st quarter worth about $402,000. Venture Visionary Partners LLC bought a new stake in shares of Teledyne Technologies in the 1st quarter worth about $3,968,000. Bowen Hanes & Co. Inc. increased its position in shares of Teledyne Technologies by 0.8% in the 1st quarter. Bowen Hanes & Co. Inc. now owns 184,387 shares of the scientific and technical instruments company's stock worth $91,771,000 after purchasing an additional 1,518 shares during the last quarter. Credit Agricole S A increased its position in shares of Teledyne Technologies by 11.0% in the 1st quarter. Credit Agricole S A now owns 10,549 shares of the scientific and technical instruments company's stock worth $5,250,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Teledyne Technologies by 32.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,982 shares of the scientific and technical instruments company's stock worth $982,000 after purchasing an additional 480 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TDY. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. UBS Group boosted their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective 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. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $576.57.

Insider Transactions at Teledyne Technologies

In other news, CEO George C. Bobb III sold 6,735 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value 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 represents a 39.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Simon M. Lorne sold 6,311 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. This represents a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,021 shares of company stock valued at $8,315,662. Company insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Performance

NYSE TDY traded down $3.62 on Wednesday, hitting $541.15. The stock had a trading volume of 178,759 shares, compared to its average volume of 325,549. Teledyne Technologies Incorporated has a one year low of $416.00 and a one year high of $570.56. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The stock has a market cap of $25.37 billion, a price-to-earnings ratio of 29.80, a P/E/G ratio of 2.51 and a beta of 1.07. The company's 50-day moving average is $533.50 and its two-hundred day moving average is $502.69.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. Teledyne Technologies's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior 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, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a share repurchase program on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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.