Northern Trust Corp Increases Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Northern Trust Corp increased its holdings in Teledyne Technologies by 0.5% in Q1, now owning about 1.15% of the company worth $268.4 million after acquiring 2,490 shares.
• Several analysts have upgraded their ratings and price targets for Teledyne Technologies, with targets now ranging from $550 to $630, reflecting a generally positive outlook.
• The company announced a $2 billion share repurchase plan, indicating it believes its shares are undervalued, which typically signals confidence in its future performance.

Northern Trust Corp boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,364 shares of the scientific and technical instruments company's stock after acquiring an additional 2,490 shares during the quarter. Northern Trust Corp owned 1.15% of Teledyne Technologies worth $268,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in Teledyne Technologies during the 1st quarter valued at approximately $247,000. Asset Management One Co. Ltd. raised its position in Teledyne Technologies by 4.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock valued at $19,061,000 after purchasing an additional 1,712 shares during the last quarter. IFM Investors Pty Ltd raised its position in Teledyne Technologies by 8.3% during the 1st quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company's stock valued at $4,436,000 after purchasing an additional 681 shares during the last quarter. SG Americas Securities LLC bought a new position in Teledyne Technologies during the 1st quarter valued at approximately $6,725,000. Finally, QRG Capital Management Inc. bought a new position in Teledyne Technologies during the 1st quarter valued at approximately $275,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies 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 in the company, valued at approximately $5,771,265.31. This trade 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 Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction dated 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 completion of the transaction, the director owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. This represents a 9.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,021 shares of company stock worth $8,315,662. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TDY. 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. Morgan Stanley raised 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. 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. Finally, Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $576.57.

Teledyne Technologies Stock Performance

NYSE TDY traded down $7.1080 on Monday, hitting $543.9520. 167,312 shares of the company traded hands, compared to its average volume of 326,322. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.56 and a beta of 1.07. 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 business's 50 day moving average price is $531.35 and its 200-day moving average price is $502.19. Teledyne Technologies Incorporated has a 52-week low of $416.00 and a 52-week high of $570.56.

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, beating analysts' consensus estimates of $5.05 by $0.15. The business had revenue of $1.51 billion for 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%.The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $4.58 earnings per share. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. Equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are usually 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.