Twin Tree Management LP Has $2.86 Million Holdings in Teledyne Technologies Incorporated $TDY

Key Points

• Twin Tree Management LP significantly increased its stake in Teledyne Technologies by 5,476% in Q2, now holding shares worth approximately $2.86 million.
• Institutional investors own 91.58% of Teledyne's stock, with several firms, including UBS and Pacer Advisors, making substantial increases to their positions.
• Teledyne Technologies recently announced a $2 billion stock buyback plan, indicating confidence in its undervalued shares amidst strong Q2 earnings that surpassed expectations.

Twin Tree Management LP grew its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5,476.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,576 shares of the scientific and technical instruments company's stock after buying an additional 5,476 shares during the quarter. Twin Tree Management LP's holdings in Teledyne Technologies were worth $2,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TDY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Teledyne Technologies by 56.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 640,572 shares of the scientific and technical instruments company's stock valued at $318,819,000 after buying an additional 232,401 shares during the period. Pacer Advisors Inc. lifted its position in shares of Teledyne Technologies by 3,319.3% in the first quarter. Pacer Advisors Inc. now owns 181,601 shares of the scientific and technical instruments company's stock worth $90,385,000 after purchasing an additional 176,290 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Teledyne Technologies by 10.9% in 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Teledyne Technologies by 1.9% in 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 in the last quarter. Finally, Greenhouse Funds LLLP bought a new stake in shares of Teledyne Technologies in the first quarter worth $48,532,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Teledyne Technologies in a research report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective on the stock. Barclays initiated coverage on shares of Teledyne Technologies in a research report on Wednesday, October 8th. They issued an "equal weight" rating and a $606.00 price objective on the stock. Morgan Stanley upped their price target on shares of Teledyne Technologies from $580.00 to $620.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, UBS Group upped their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Teledyne Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $585.25.

Insider Activity

In other news, Director Michael T. Smith sold 1,975 shares of the 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 of the company's stock, valued at $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George C. Bobb III sold 6,735 shares of the 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 directly 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. Insiders have sold 15,021 shares of company stock valued at $8,315,662 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Performance

NYSE TDY opened at $561.78 on Friday. The firm has a market capitalization of $26.34 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11. The firm's fifty day moving average price is $557.77 and its two-hundred day moving average price is $519.10. Teledyne Technologies Incorporated has a 1 year low of $419.00 and a 1 year high of $595.99. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. The company 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%. The company's revenue was up 10.2% on a year-over-year basis. During the same period in the prior 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. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies declared that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.