NFJ Investment Group LLC Trims Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• NFJ Investment Group LLC has significantly reduced its stake in Teledyne Technologies, selling 10,528 shares and retaining only 2,809 shares, which now amount to approximately $1.4 million.
• Multiple institutional investors have increased their holdings in Teledyne, with Golden State Wealth Management boosting its stake by 205.9%, indicating growing confidence in the company's prospects.
• Teledyne Technologies recently announced a share repurchase plan of $2 billion, suggesting that the board perceives the company's stock as undervalued.

NFJ Investment Group LLC lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 78.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,809 shares of the scientific and technical instruments company's stock after selling 10,528 shares during the period. NFJ Investment Group LLC's holdings in Teledyne Technologies were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Teledyne Technologies by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,718,295 shares of the scientific and technical instruments company's stock worth $2,846,053,000 after purchasing an additional 105,811 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Teledyne Technologies by 0.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock worth $799,734,000 after purchasing an additional 13,607 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Teledyne Technologies by 10.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company's stock worth $726,369,000 after purchasing an additional 143,062 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Teledyne Technologies by 7.1% during the first quarter. JPMorgan Chase & Co. now owns 1,102,795 shares of the scientific and technical instruments company's stock worth $548,872,000 after purchasing an additional 73,009 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Teledyne Technologies by 0.5% during the first quarter. Northern Trust Corp now owns 539,364 shares of the scientific and technical instruments company's stock worth $268,447,000 after purchasing an additional 2,490 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $0.80 during trading on Wednesday, hitting $545.56. The company had a trading volume of 221,582 shares, compared to its average volume of 321,013. The firm has a market capitalization of $25.58 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.09. Teledyne Technologies Incorporated has a fifty-two week low of $416.00 and a fifty-two week high of $570.56. The stock has a fifty day simple moving average of $542.31 and a two-hundred day simple moving average of $505.70. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

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 earnings per share for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $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. On average, research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies declared that its board has authorized a stock repurchase plan on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Insider Buying and Selling

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the business's 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George C. Bobb III sold 6,735 shares of the business's stock in a transaction dated 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 owned 10,391 shares in the company, 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. Over the last three months, insiders have sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is owned by insiders.

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.