Teledyne Technologies (NYSE:TDY) Rating Increased to Hold at Barclays

Key Points

• Teledyne Technologies has been upgraded to a "hold" rating by Barclays, while seven other analysts have rated the stock as a "buy."
• The company had a strong quarter, reporting $5.20 earnings per share, which exceeded analysts' estimates, along with a revenue increase of 10.2% year-over-year.
• Teledyne Technologies has initiated a $2 billion share repurchase plan, indicating confidence in the stock's valuation by its leadership.

Teledyne Technologies (NYSE:TDY - Get Free Report) was upgraded by research analysts at Barclays to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Teledyne Technologies in a research report on Wednesday. Morgan Stanley upped their target price on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. UBS Group boosted their price objective on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus started coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $580.25.

Teledyne Technologies Stock Down 0.1%

TDY opened at $588.08 on Tuesday. The stock's fifty day moving average is $555.54 and its 200-day moving average is $516.45. Teledyne Technologies has a one year low of $419.00 and a one year high of $595.99. The company has a market capitalization of $27.57 billion, a PE ratio of 32.38, a P/E/G ratio of 2.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66.

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

Teledyne Technologies announced that its Board of Directors has initiated a share repurchase plan on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, 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 value of $1,106,197.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $3,468,778.04. Following the sale, the director directly owned 61,913 shares of the company's stock, valued at approximately $34,029,861.32. The trade was a 9.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,021 shares of company stock worth $8,315,662 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

Institutional Trading of Teledyne Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 35 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Teledyne Technologies by 75.9% during the second 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 in the last quarter. NBC Securities Inc. bought a new position in Teledyne Technologies during the first quarter valued at about $28,000. Rexford Capital Inc. acquired a new stake in shares of Teledyne Technologies in the second quarter worth about $29,000. Finally, TCTC Holdings LLC boosted its stake in shares of Teledyne Technologies by 97.4% during the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 37 shares in the last quarter. 91.58% of the stock is currently 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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