Magnetar Financial LLC Purchases 1,512 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Magnetar Financial LLC significantly increased its investment in Teledyne Technologies by purchasing an additional 1,512 shares, raising its total holdings by 350.0% to be worth approximately $968,000.
• Teledyne Technologies announced a $2.00 billion share buyback plan, allowing it to repurchase up to 7.7% of its outstanding shares, indicating confidence in the company's valuation.
• Recent analyst upgrades have led to a consensus target price of $576.57 for Teledyne Technologies, with six analysts rating the stock as a "buy" and one as "hold."

Magnetar Financial LLC lifted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 350.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,944 shares of the scientific and technical instruments company's stock after buying an additional 1,512 shares during the period. Magnetar Financial LLC's holdings in Teledyne Technologies were worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TDY. Golden State Wealth Management LLC boosted its position in Teledyne Technologies by 205.9% in 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 purchasing an additional 35 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Teledyne Technologies in the 1st quarter worth approximately $28,000. Quarry LP purchased a new position in shares of Teledyne Technologies in the fourth quarter worth approximately $28,000. TCTC Holdings LLC boosted its holdings in shares of Teledyne Technologies by 97.4% in the first 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 position in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the completion of the transaction, the director owned 61,913 shares in the company, valued at $34,029,861.32. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction on Wednesday, July 30th. The stock was 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 of the company's stock, valued at $5,771,265.31. The trade was a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock valued at $8,315,662 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TDY shares. 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 target on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, 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 report on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Teledyne Technologies has an average rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Price Performance

TDY traded up $1.60 during trading on Thursday, hitting $546.24. 193,963 shares of the company traded hands, compared to its average volume of 322,873. 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 market cap of $25.61 billion, a PE ratio of 30.09, a P/E/G ratio of 2.50 and a beta of 1.09. The stock's 50-day simple moving average is $539.38 and its two-hundred day simple moving average is $504.24. Teledyne Technologies Incorporated has a 1 year low of $416.00 and a 1 year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data 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. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm earned $4.58 EPS. The business's revenue was up 10.2% on a year-over-year basis. 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 anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its board has initiated a stock repurchase plan 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 purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign 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.