Teledyne Technologies Incorporated $TDY Stake Boosted by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 25.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,416 shares of the scientific and technical instruments company’s stock after buying an additional 284 shares during the quarter. DAVENPORT & Co LLC’s holdings in Teledyne Technologies were worth $725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Teledyne Technologies by 205.9% in the 1st 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. NBC Securities Inc. bought a new position in Teledyne Technologies in the 1st quarter worth approximately $28,000. TCTC Holdings LLC grew its holdings in Teledyne Technologies by 97.4% in the 1st 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. AdvisorNet Financial Inc grew its holdings in Teledyne Technologies by 51.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 82 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 28 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in Teledyne Technologies in the 1st quarter worth approximately $44,000. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

TDY has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a “buy” rating and a $626.00 price objective for the company. Barclays initiated coverage on Teledyne Technologies in a report on Wednesday. They issued an “equal weight” rating and a $606.00 price objective for the company. Weiss Ratings restated 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 stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, UBS Group upped their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $580.25.

Insider Activity

In other news, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the completion of the sale, the director owned 61,913 shares in the company, valued at approximately $34,029,861.32. This represents a 9.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George C. Bobb III sold 6,735 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total value of $3,740,686.35. Following the sale, the chief executive officer owned 10,391 shares of the company’s stock, valued at $5,771,265.31. This trade represents a 39.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,021 shares of company stock worth $8,315,662. Insiders own 1.50% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $567.27 on Friday. Teledyne Technologies Incorporated has a one year low of $419.00 and a one year high of $595.99. The stock has a fifty day moving average of $556.50 and a 200-day moving average of $517.36. The company has a market capitalization of $26.60 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.63 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) last announced 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 company 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 firm earned $4.58 EPS. The company’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. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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

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.