Teledyne Technologies (NYSE:TDY) Hits New 52-Week High - Here's What Happened

Key Points

• Teledyne Technologies reached a new 52-week high of $592.69, after closing at $587.62, during trading on Monday with a volume of 4260 shares.
• The company reported a quarterly earnings of $5.20 EPS, surpassing analysts' estimates of $5.05, alongside a revenue of $1.51 billion, reflecting a year-over-year increase of 10.2%.
• Teledyne initiated a $2.00 billion share buyback plan, allowing the company to repurchase up to 7.7% of its stock, indicating confidence in its current valuation.

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $592.58 and last traded at $592.69, with a volume of 4260 shares traded. The stock had previously closed at $587.62.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TDY shares. Stifel Nicolaus began coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Teledyne Technologies in a report on Saturday, September 27th. UBS Group raised their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley upped their target price on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $576.57.

Teledyne Technologies Stock Performance

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 has a 50 day moving average price of $553.33 and a two-hundred day moving average price of $514.81. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 2.73 and a beta of 1.11.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company posted $4.58 earnings per share. The firm's 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 predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies 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 trade represents a 9.25% decrease in their ownership of the stock. The sale 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 on Monday, July 28th. The shares were sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the completion of the sale, the director 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. Over the last three months, insiders have sold 15,021 shares of company stock worth $8,315,662. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Teledyne Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its holdings in shares of Teledyne Technologies by 205.9% during 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. increased its stake in Teledyne Technologies by 75.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 51 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 22 shares during the last quarter. NBC Securities Inc. bought a new stake in Teledyne Technologies during the 1st quarter worth about $28,000. Rexford Capital Inc. acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $29,000. Finally, TCTC Holdings LLC increased its position in shares of 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 valued at $37,000 after acquiring an additional 37 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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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