Teledyne Technologies (NYSE:TDY) Reaches New 1-Year High - What's Next?

Key Points

• Teledyne Technologies' stock reached a new 52-week high of $585.96 during trading, with the stock last at $578.50.
• Analysts have set new price targets for the company, with UBS raising its target from $585.00 to $630.00 and Morgan Stanley increasing theirs from $535.00 to $580.00.
• The company reported Q2 earnings of $5.20 per share, beating expectations, with revenues up 10.2% year-over-year, and announced a $2.00 billion share buyback plan.

Teledyne Technologies Incorporated (NYSE:TDY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $585.96 and last traded at $578.50, with a volume of 22304 shares traded. The stock had previously closed at $577.11.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDY. Morgan Stanley raised their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Stifel Nicolaus initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price on the stock. Finally, UBS Group lifted their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $576.57.

Teledyne Technologies Price Performance

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's fifty day moving average price is $550.49 and its two-hundred day moving average price is $511.85. The stock has a market capitalization of $27.18 billion, a PE ratio of 31.92, a PEG ratio of 2.68 and a beta of 1.09.

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 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 during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the company earned $4.58 earnings per share. The firm'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. On average, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies declared that its board has authorized a stock 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 repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Michael T. Smith sold 1,975 shares of the 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 completion of the sale, the director directly owned 51,328 shares of the company's stock, valued at $28,748,812.80. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the completion of the sale, the chief executive officer directly owned 10,391 shares of the company's stock, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,021 shares of company stock valued at $8,315,662. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cresset Asset Management LLC increased its holdings in Teledyne Technologies by 2.5% in the 2nd quarter. Cresset Asset Management LLC now owns 830 shares of the scientific and technical instruments company's stock valued at $425,000 after buying an additional 20 shares during the period. Fourpath Capital Management LLC increased its stake in Teledyne Technologies by 3.0% in the second 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 in the last quarter. Nvest Financial LLC increased its stake in Teledyne Technologies by 1.3% during the 2nd quarter. Nvest Financial LLC now owns 1,634 shares of the scientific and technical instruments company's stock worth $837,000 after purchasing an additional 21 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Teledyne Technologies by 75.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 51 shares of the scientific and technical instruments company's stock worth $26,000 after acquiring an additional 22 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Teledyne Technologies by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,538 shares of the scientific and technical instruments company's stock valued at $3,254,000 after buying an additional 23 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Company 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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