US Bancorp DE Sells 2,009 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• US Bancorp DE reduced its holdings in Teledyne Technologies by 27.6%, selling 2,009 shares in the second quarter, now holding a total of 5,269 shares worth approximately $2.699 million.
• Several institutional investors significantly increased their stakes in Teledyne Technologies during the first quarter, with Golden State Wealth Management LLC raising its holdings by 205.9%.
• Teledyne Technologies initiated a $2 billion stock buyback program, allowing repurchase of up to 7.7% of its outstanding shares as a sign of confidence in the company's stock value.

US Bancorp DE decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 27.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,269 shares of the scientific and technical instruments company's stock after selling 2,009 shares during the period. US Bancorp DE's holdings in Teledyne Technologies were worth $2,699,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TDY. Golden State Wealth Management LLC lifted its holdings in Teledyne Technologies by 205.9% during the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 35 shares in the last quarter. TCTC Holdings LLC increased its position in shares of Teledyne Technologies by 97.4% during the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 37 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Teledyne Technologies by 51.9% during the second quarter. AdvisorNet Financial Inc now owns 82 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 28 shares in the last quarter. WPG Advisers LLC acquired a new position in Teledyne Technologies during the 1st quarter valued at approximately $44,000. Finally, AlphaQuest LLC acquired a new position in shares of Teledyne Technologies in the 1st quarter valued at $57,000. 91.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 6,311 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the transaction, the director directly owned 61,913 shares of the company's stock, valued at $34,029,861.32. This represents a 9.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This represents a 3.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,021 shares of company stock worth $8,315,662. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

TDY has been the topic of a number of research reports. Barclays started coverage on shares of Teledyne Technologies in a research note on Wednesday, October 8th. They issued an "equal weight" rating and a $606.00 price objective on the stock. UBS Group raised their price objective 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. Morgan Stanley raised their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Weiss Ratings restated a "buy (b)" rating on shares of Teledyne Technologies in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Teledyne Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $580.25.

Teledyne Technologies Price Performance

TDY opened at $571.70 on Wednesday. The firm has a market cap of $26.81 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 2.63 and a beta of 1.11. 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 Incorporated has a 12-month low of $419.00 and a 12-month high of $595.99. The stock's 50-day moving average price is $557.20 and its 200 day moving average price is $518.33.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, topping the consensus estimate 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 revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $4.58 EPS. 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, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its board has initiated a stock buyback program 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 repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board 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.

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