Weiss Ratings Reiterates "Buy (B)" Rating for Teledyne Technologies (NYSE:TDY)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for Teledyne Technologies (NYSE:TDY), indicating positive market sentiment towards the company's stock.
• Analysts have raised their price targets for Teledyne Technologies, with Morgan Stanley increasing its objective from $535 to $580, while UBS Group raised theirs from $585 to $630.
• The company recently approved a $2 billion stock buyback program, allowing it to repurchase up to 7.7% of its shares, a move typically reflecting confidence in its stock valuation.

Teledyne Technologies (NYSE:TDY - Get Free Report)'s stock had its "buy (b)" rating restated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the company. Morgan Stanley lifted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Barclays assumed coverage on Teledyne Technologies in a research report on Wednesday. They set an "equal weight" rating and a $606.00 price objective on the stock. Stifel Nicolaus assumed coverage on Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. Finally, UBS Group lifted their target price on Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $580.25.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded down $0.49 during midday trading on Wednesday, hitting $588.08. The stock had a trading volume of 223,317 shares, compared to its average volume of 274,119. The company has a market capitalization of $27.58 billion, a PE ratio of 32.38, a P/E/G ratio of 2.73 and a beta of 1.11. The stock has a 50 day simple moving average of $555.54 and a 200-day simple moving average of $516.45. Teledyne Technologies has a 1 year low of $419.00 and a 1 year high of $595.99. The company has a quick ratio of 1.07, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results 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 return on equity of 9.96% and a net margin of 14.54%.The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $4.58 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. 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, sell-side analysts expect that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its board has approved a stock buyback program 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 programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Teledyne Technologies

In related news, CEO George C. Bobb III sold 6,735 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 10,391 shares of the company's stock, valued at $5,771,265.31. This represents a 39.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the company's stock in a transaction dated 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 approximately $28,748,812.80. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,021 shares of company stock valued at $8,315,662. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

Large investors have recently modified their holdings of the business. Golden State Wealth Management LLC increased its position in 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 position 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 worth $26,000 after buying an additional 22 shares in the last quarter. NBC Securities Inc. purchased a new position in Teledyne Technologies during the first quarter worth $28,000. Rexford Capital Inc. purchased a new position in Teledyne Technologies during the second quarter worth $29,000. Finally, TCTC Holdings LLC increased its position in Teledyne Technologies by 97.4% during 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. 91.58% of the stock is owned by hedge funds and other institutional investors.

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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