Goldman Sachs Group Inc. Acquires 90,302 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Goldman Sachs Group Inc. increased its holdings in Teledyne Technologies by 53.3%, owning 0.55% of the company, after acquiring an additional 90,302 shares, valued at approximately $129 million.
• Teledyne Technologies reported earnings of $5.20 per share in its latest quarter, exceeding analyst estimates, with revenue also surpassing expectations at $1.51 billion.
• The company authorized a $2.00 billion share repurchase plan, indicating that the board believes its stock is undervalued.

Goldman Sachs Group Inc. lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 53.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,753 shares of the scientific and technical instruments company's stock after purchasing an additional 90,302 shares during the period. Goldman Sachs Group Inc. owned 0.55% of Teledyne Technologies worth $129,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TDY. GAMMA Investing LLC raised its position in Teledyne Technologies by 61,911.9% during the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock worth $247,220,000 after acquiring an additional 495,914 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Teledyne Technologies in the 4th quarter valued at about $143,524,000. Pacer Advisors Inc. increased its stake in shares of 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Teledyne Technologies by 10.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock valued at $726,369,000 after purchasing an additional 143,062 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Teledyne Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock valued at $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TDY. Morgan Stanley boosted their price target on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. UBS Group lifted 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. Finally, Stifel Nicolaus initiated coverage on Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

Insider Buying and Selling

In other Teledyne Technologies news, CEO George C. Bobb III sold 6,735 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $5,771,265.31. This represents a 39.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael T. Smith sold 1,975 shares of Teledyne Technologies stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the sale, the director directly owned 51,328 shares in the company, valued at $28,748,812.80. The trade was a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,021 shares of company stock worth $8,315,662 in the last three months. 1.50% of the stock is owned by corporate insiders.

Teledyne Technologies Price Performance

TDY traded down $0.04 during trading on Wednesday, hitting $554.85. 30,518 shares of the stock traded hands, compared to its average volume of 318,582. The business has a 50 day moving average price of $546.36 and a 200 day moving average price of $507.53. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 2.58 and a beta of 1.09. Teledyne Technologies Incorporated has a twelve month low of $419.00 and a twelve month 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 quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 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 analysts' expectations 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 was up 10.2% on a year-over-year basis. During the same quarter in the previous 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. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the scientific and technical instruments company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are 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.