Ethic Inc. Has $2.34 Million Position in Teledyne Technologies Incorporated $TDY

Key Points

• Ethic Inc. has increased its stake in Teledyne Technologies by 11.2%, bringing its total holdings to 4,695 shares valued at $2.34 million.
• A notable share repurchase program was approved, allowing Teledyne Technologies to buy back $2.00 billion worth of shares, indicating the board's belief that the stock is undervalued.
• Shares of Teledyne Technologies currently trade at $538.73, with the company reporting earnings per share of $5.20, exceeding analyst expectations and showing a 10.2% revenue increase year-over-year.

Ethic Inc. lifted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 11.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,695 shares of the scientific and technical instruments company's stock after purchasing an additional 472 shares during the quarter. Ethic Inc.'s holdings in Teledyne Technologies were worth $2,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mariner LLC raised its position in Teledyne Technologies by 2.4% during the 4th quarter. Mariner LLC now owns 5,462 shares of the scientific and technical instruments company's stock valued at $2,535,000 after purchasing an additional 130 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter worth about $632,000. United Capital Financial Advisors LLC increased its stake in Teledyne Technologies by 10.1% in the fourth quarter. United Capital Financial Advisors LLC now owns 753 shares of the scientific and technical instruments company's stock worth $350,000 after purchasing an additional 69 shares during the period. Marshall Wace LLP bought a new position in Teledyne Technologies during the 4th quarter worth about $10,553,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Teledyne Technologies by 169.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 18,816 shares of the scientific and technical instruments company's stock valued at $8,733,000 after buying an additional 11,838 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Price Performance

NYSE:TDY traded up $7.5850 during trading hours on Friday, reaching $550.0250. 95,620 shares of the company were exchanged, compared to its average volume of 327,013. The business has a 50 day moving average of $530.09 and a 200 day moving average of $502.09. The company has a market capitalization of $25.79 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.51 and a beta of 1.07. Teledyne Technologies Incorporated has a 1-year low of $416.00 and a 1-year high of $570.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07.

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 for 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%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last 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. Research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TDY. Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price on the stock. Needham & Company LLC cut their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. TD Securities restated a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. UBS Group upped their price target on 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 upped their price objective 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. 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.

Insiders Place Their Bets

In other Teledyne Technologies news, CEO George C. Bobb III sold 6,735 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 10,391 shares in the company, valued at approximately $5,771,265.31. This represents a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the transaction, the director owned 51,328 shares of the company's stock, valued at $28,748,812.80. This represents a 3.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,021 shares of company stock valued at $8,315,662. Insiders own 1.50% of the company's stock.

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.