Panagora Asset Management Inc. Sells 5,179 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Panagora Asset Management Inc. has reduced its stake in Teledyne Technologies by 44.6%, now holding 6,434 shares worth approximately $3.2 million.
• Insiders, including Director Michael T. Smith and CEO George C. Bobb III, sold a combined total of 15,021 shares for over $8.3 million in the last 90 days.
• Teledyne Technologies announced a $2 billion share buyback program, indicating the board's belief that the company's shares are currently undervalued.

Panagora Asset Management Inc. cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 44.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,434 shares of the scientific and technical instruments company's stock after selling 5,179 shares during the quarter. Panagora Asset Management Inc.'s holdings in Teledyne Technologies were worth $3,202,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TDY. Golden State Wealth Management LLC lifted its stake 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. purchased a new position in shares of Teledyne Technologies in the first quarter worth about $28,000. Quarry LP bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $28,000. TCTC Holdings LLC lifted its stake in shares of Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 37 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in Teledyne Technologies by 192.3% during the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on TDY. 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. Stifel Nicolaus initiated coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. Finally, UBS Group increased their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $576.57.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the sale, the director directly owned 61,913 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $560.10, for a total value 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. 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 valued at $8,315,662 over the last three months. Corporate insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded up $1.26 during trading on Friday, reaching $548.26. The company had a trading volume of 266,615 shares, compared to its average volume of 253,595. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. 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 firm's 50-day simple moving average is $540.96 and its 200 day simple moving average is $505.01. 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 issued 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 business 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%.The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior 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. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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

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.