Jennison Associates LLC Buys 3,448 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Jennison Associates LLC grew its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,053 shares of the scientific and technical instruments company's stock after buying an additional 3,448 shares during the period. Jennison Associates LLC owned approximately 0.10% of Teledyne Technologies worth $22,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its holdings in Teledyne Technologies by 122.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,805 shares of the scientific and technical instruments company's stock valued at $5,943,000 after purchasing an additional 7,049 shares during the period. Royal London Asset Management Ltd. raised its holdings in Teledyne Technologies by 10.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 24,274 shares of the scientific and technical instruments company's stock worth $11,266,000 after purchasing an additional 2,332 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Teledyne Technologies during the fourth quarter worth $203,000. Millstone Evans Group LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $42,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Teledyne Technologies by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 4,417 shares of the scientific and technical instruments company's stock valued at $2,050,000 after buying an additional 1,383 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TDY. TD Securities reaffirmed a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC cut their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Morgan Stanley boosted their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, UBS Group increased their target price on Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $576.57.

Teledyne Technologies Stock Up 0.9%

Shares of Teledyne Technologies stock traded up $4.73 during trading on Thursday, reaching $551.31. The stock had a trading volume of 538,956 shares, compared to its average volume of 426,877. The company has a current ratio of 1.66, a quick ratio of 1.44 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $25.83 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.58 and a beta of 1.04. The stock has a fifty day moving average price of $509.44 and a two-hundred day moving average price of $493.77. Teledyne Technologies Incorporated has a 52 week low of $397.78 and a 52 week high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm earned $4.58 EPS. Teledyne Technologies's revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has approved a stock buyback program on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Teledyne Technologies 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.