Teledyne Technologies Stock: Is TDY Outperforming the Technology Sector?

Company Overview - Teledyne Technologies Incorporated (TDY) is valued at a market cap of $26.4 billion and specializes in high-technology components, systems, and instrumentation products for industrial growth markets [1] - The company is based in Thousand Oaks, California, and its offerings include digital imaging, environmental monitoring, aerospace & defense electronics, and engineered systems [1] Market Position - TDY is classified as a "large-cap stock" due to its market cap exceeding $10 billion, highlighting its size and influence in the scientific & technical instruments industry [2] - The company emphasizes innovation, precision engineering, and long-term customer relationships, positioning it well in industries requiring accuracy and reliability [2] Stock Performance - Currently, TDY is trading 1.4% below its 52-week high of $570.56, reached on July 23 [3] - Over the past three months, TDY shares have surged 15.1%, outperforming the Technology Select Sector SPDR Fund's (XLK) return of 14.3% [3] - In the longer term, TDY has rallied 31.8% over the past 52 weeks, surpassing XLK's 27.1% increase during the same period [4] - Year-to-date, TDY shares are up 21.2%, compared to XLK's 18.8% rise [4] - TDY has been trading above its 200-day moving average for the past year and has remained above its 50-day moving average since early May [4] Financial Performance - On July 23, TDY reported Q2 results with a quarterly revenue increase of 10.2% year-over-year to a record $1.5 billion, exceeding consensus estimates by 2.7% [5] - The adjusted EPS for the quarter was $5.20, reflecting a growth of 13.5% from the same period last year and 3.6% ahead of analyst expectations [5] Competitive Landscape - TDY has outperformed its rival, Keysight Technologies, Inc. (KEYS), which gained 13.8% over the past 52 weeks and 10% year-to-date [6]