Texas Capital Bank Wealth Management Services Inc Buys Shares of 902 Teledyne Technologies Incorporated $TDY

Key Points

• Texas Capital Bank Wealth Management Services acquired 902 shares of Teledyne Technologies, valued at approximately $449,000, indicating significant investment interest in the company during the first quarter.
• Insider transactions included Director Simon M. Lorne and CEO George C. Bobb III selling substantial amounts of stock, reflecting a 9.25% and 39.33% decrease in their ownership, respectively.
• Teledyne Technologies reported better-than-expected earnings, with an EPS of $5.20 for the last quarter, and has authorized a $2.00 billion share repurchase program to boost shareholder value.

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 902 shares of the scientific and technical instruments company's stock, valued at approximately $449,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Teledyne Technologies by 1.9% during 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 acquiring an additional 105,811 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Teledyne Technologies by 0.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after purchasing an additional 13,607 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Teledyne Technologies by 7.1% in the first quarter. JPMorgan Chase & Co. now owns 1,102,795 shares of the scientific and technical instruments company's stock valued at $548,872,000 after purchasing an additional 73,009 shares during the last quarter. Northern Trust Corp increased its stake in shares of Teledyne Technologies by 0.5% during the 1st 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 in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Teledyne Technologies by 61,911.9% during the 1st quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock worth $247,220,000 after purchasing an additional 495,914 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the transaction, the director owned 61,913 shares in the company, valued at approximately $34,029,861.32. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction that occurred on 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 transaction, the chief executive officer directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TDY has been the topic of a number of analyst reports. UBS Group increased their target price on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley increased their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. TD Securities reissued a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Trading Up 1.1%

Shares of TDY opened at $542.3120 on Wednesday. Teledyne Technologies Incorporated has a twelve month low of $415.02 and a twelve month high of $570.56. The firm has a market capitalization of $25.43 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 2.49 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 stock's fifty day simple moving average is $528.27 and its 200 day simple moving average is $501.58.

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 (EPS) for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business 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. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a share repurchase program 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 repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

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.

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