Teledyne Technologies (NYSE:TDY) Price Target Lowered to $584.00 at Barclays

Key Points

• Barclays has lowered its price target for Teledyne Technologies from $606.00 to $584.00, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 7.60% from its current price.
• The company reported earnings of $5.57 per share for the last quarter, exceeding analysts' expectations of $5.47, and also experienced a revenue increase of 6.7% year-over-year.
• Teledyne Technologies has approved a share buyback program worth up to $2.00 billion, which allows the company to repurchase approximately 7.7% of its shares, indicating that the board believes the stock is undervalued.

Teledyne Technologies (NYSE:TDY - Get Free Report) had its price objective reduced by equities researchers at Barclays from $606.00 to $584.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the scientific and technical instruments company's stock. Barclays's target price suggests a potential upside of 7.60% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Teledyne Technologies in a report on Wednesday, October 8th. UBS Group raised their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC boosted their target price on Teledyne Technologies from $585.00 to $615.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Morgan Stanley increased their price target on Teledyne Technologies from $580.00 to $620.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 15th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $590.63.

Teledyne Technologies Price Performance

NYSE TDY opened at $542.75 on Thursday. Teledyne Technologies has a 12 month low of $419.00 and a 12 month high of $595.99. The firm has a market capitalization of $25.45 billion, a PE ratio of 29.89, a P/E/G ratio of 2.66 and a beta of 1.11. The company's 50 day simple moving average is $558.98 and its 200 day simple moving average is $521.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.47 by $0.10. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%.The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $5.10 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Teledyne Technologies has set its FY 2025 guidance at 21.450-21.600 EPS. Q4 2025 guidance at 5.730-5.880 EPS. As a group, equities research analysts forecast that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Teledyne Technologies announced that its board has authorized a share buyback program 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 repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Michael T. Smith sold 1,975 shares of the business'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 of the company's stock, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George C. Bobb III sold 6,735 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the completion of the transaction, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. This represents a 39.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,021 shares of company stock worth $8,315,662 in the last three months. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC boosted its position in shares of Teledyne Technologies by 2.5% in the second quarter. Cresset Asset Management LLC now owns 830 shares of the scientific and technical instruments company's stock valued at $425,000 after acquiring an additional 20 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Teledyne Technologies by 3.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 636 shares of the scientific and technical instruments company's stock worth $373,000 after acquiring an additional 20 shares during the period. Fourpath Capital Management LLC raised its stake in Teledyne Technologies by 3.0% during the 2nd quarter. Fourpath Capital Management LLC now owns 714 shares of the scientific and technical instruments company's stock valued at $366,000 after purchasing an additional 21 shares during the last quarter. Nvest Financial LLC boosted its holdings in Teledyne Technologies by 1.3% in the 2nd quarter. Nvest Financial LLC now owns 1,634 shares of the scientific and technical instruments company's stock valued at $837,000 after purchasing an additional 21 shares during the period. Finally, SBI Securities Co. Ltd. grew its position 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 worth $26,000 after purchasing an additional 22 shares during the last quarter. 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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