Sumitomo Mitsui Trust Group Inc. Grows Holdings in Teledyne Technologies Incorporated $TDY

Sumitomo Mitsui Trust Group Inc. increased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 141,225 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,750 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Teledyne Technologies were worth $82,763,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 valued at $2,992,671,000 after buying an additional 123,229 shares in the last quarter. State Street Corp grew its position in Teledyne Technologies by 2.2% in the 2nd quarter. State Street Corp now owns 2,143,419 shares of the scientific and technical instruments company’s stock valued at $1,098,095,000 after acquiring an additional 46,916 shares in the last quarter. Dodge & Cox purchased a new stake in Teledyne Technologies during the 2nd quarter worth approximately $767,307,000. Geode Capital Management LLC boosted its holdings 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 valued at $635,107,000 after purchasing an additional 28,461 shares during the period. Finally, Norges Bank acquired a new position in shares of Teledyne Technologies during the second quarter worth about $317,986,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TDY has been the topic of a number of analyst reports. Stifel Nicolaus raised their price target on Teledyne Technologies from $626.00 to $645.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Teledyne Technologies in a research note on Monday, December 29th. Citigroup upped their price target on Teledyne Technologies from $567.00 to $604.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays cut their price objective on shares of Teledyne Technologies from $584.00 to $579.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Needham & Company LLC upped their target price on shares of Teledyne Technologies from $585.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $605.38.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $561.83 on Thursday. Teledyne Technologies Incorporated has a 52 week low of $419.00 and a 52 week high of $595.99. The company has a 50-day moving average price of $514.12 and a 200 day moving average price of $536.45. The company has a market cap of $26.38 billion, a P/E ratio of 32.53, a PEG ratio of 2.36 and a beta of 1.03. The company has a quick ratio of 1.20, a current ratio of 1.79 and a debt-to-equity ratio of 0.20.

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

Teledyne Technologies Profile

Teledyne Technologies (NYSE: TDY), headquartered in Thousand Oaks, California, is a diversified industrial technology company that designs, manufactures and supports sophisticated electronic systems, instruments and imaging products. Founded in 1960 by Henry Singleton and George Kozmetsky, Teledyne has grown into a multinational provider of high-performance equipment and software for commercial, scientific and government customers. Its offerings are used in markets that include aerospace and defense, marine, industrial manufacturing, environmental monitoring and scientific research.

The company operates through businesses that develop precision instrumentation, digital imaging products, engineered systems and aerospace and defense electronics.