Teledyne Technologies (NYSE:TDY) Hits New 1-Year High - Here's What Happened

Key Points

• Teledyne Technologies' stock price reached a new 52-week high of $573.29, with a last trading price of $571.53 and a volume of 8,478 shares.
• Analysts have upgraded their price targets for Teledyne, with UBS Group increasing its target to $630.00 and Stifel Nicolaus starting coverage with a buy rating at $626.00.
• The company announced a $2.00 billion share repurchase program, allowing it to buy back up to 7.7% of its stock, signaling confidence in its valuation.

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $573.29 and last traded at $571.53, with a volume of 8478 shares changing hands. The stock had previously closed at $567.92.

Analyst Ratings Changes

A number of research firms recently commented on TDY. Morgan Stanley increased their price target 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 began coverage on shares of Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price for the company. Finally, UBS Group boosted their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Six equities research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Trading Up 0.5%

The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $26.75 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The firm's 50-day simple moving average is $548.96 and its 200-day simple moving average is $509.46.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted 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. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the company posted $4.58 EPS. The business's quarterly revenue was up 10.2% on a year-over-year basis. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. Analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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

Insider Activity

In related 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 transaction, the director directly owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. This trade represents a 9.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 directly owned 51,328 shares of the company's stock, 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 three months, insiders have sold 15,021 shares of company stock worth $8,315,662. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Teledyne Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC boosted 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 buying an additional 35 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Teledyne Technologies by 75.9% in the second quarter. SBI Securities Co. Ltd. now owns 51 shares of the scientific and technical instruments company's stock worth $26,000 after buying an additional 22 shares in the last quarter. NBC Securities Inc. purchased a new stake in Teledyne Technologies in the first quarter worth approximately $28,000. Rexford Capital Inc. purchased a new stake in Teledyne Technologies in the second quarter worth approximately $29,000. Finally, TCTC Holdings LLC boosted its stake in Teledyne Technologies by 97.4% in the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

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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