Portside Wealth Group LLC Sells 653 Shares of Teledyne Technologies Incorporated $TDY

Portside Wealth Group LLC trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY) by 28.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,632 shares of the scientific and technical instruments company’s stock after selling 653 shares during the period. Portside Wealth Group LLC’s holdings in Teledyne Technologies were worth $836,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Teledyne Technologies by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 5,841,524 shares of the scientific and technical instruments company’s stock worth $2,992,671,000 after buying an additional 123,229 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Teledyne Technologies by 10.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,459,422 shares of the scientific and technical instruments company’s stock worth $726,369,000 after acquiring an additional 143,062 shares during the period. Geode Capital Management LLC boosted its position in Teledyne Technologies by 2.3% in the second quarter. Geode Capital Management LLC now owns 1,242,610 shares of the scientific and technical instruments company’s stock worth $635,107,000 after purchasing an additional 28,461 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Teledyne Technologies by 7.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,102,795 shares of the scientific and technical instruments company’s stock valued at $548,872,000 after purchasing an additional 73,009 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Teledyne Technologies by 56.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 640,572 shares of the scientific and technical instruments company’s stock valued at $318,819,000 after purchasing an additional 232,401 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Teledyne Technologies from $585.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. UBS Group raised their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley upped their price objective on Teledyne Technologies from $580.00 to $620.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Teledyne Technologies in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their target price on Teledyne Technologies from $626.00 to $645.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $606.29.

Teledyne Technologies Stock Up 0.9%

Teledyne Technologies stock opened at $503.88 on Wednesday. The firm has a 50 day simple moving average of $549.02 and a 200 day simple moving average of $530.36. The company has a current ratio of 1.79, a quick ratio of 1.20 and a debt-to-equity ratio of 0.20. Teledyne Technologies Incorporated has a 1-year low of $419.00 and a 1-year high of $595.99. The firm has a market capitalization of $23.66 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 2.43 and a beta of 1.12.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 EPS for the quarter, topping analysts’ consensus estimates of $5.47 by $0.10. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Teledyne Technologies had a return on equity of 9.95% and a net margin of 13.62%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $5.10 earnings per share. Teledyne Technologies has set its FY 2025 guidance at 21.450-21.600 EPS. Q4 2025 guidance at 5.730-5.880 EPS. On average, analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.