Allianz Asset Management GmbH Increases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Allianz Asset Management GmbH increased its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,251 shares of the scientific and technical instruments company's stock after acquiring an additional 738 shares during the quarter. Allianz Asset Management GmbH's holdings in Teledyne Technologies were worth $2,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in shares of Teledyne Technologies by 205.9% during the first 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. purchased a new stake in shares of Teledyne Technologies during the first quarter worth $28,000. Quarry LP purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth $28,000. Hurley Capital LLC purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth $33,000. Finally, Ancora Advisors LLC grew its holdings in shares of Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Trading Down 1.2%

NYSE TDY traded down $6.46 during trading hours on Friday, reaching $544.56. The company had a trading volume of 446,276 shares, compared to its average volume of 463,371. The stock has a 50-day moving average of $515.43 and a 200 day moving average of $496.97. Teledyne Technologies Incorporated has a 1-year low of $397.78 and a 1-year high of $570.56. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $25.53 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results 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 net margin of 14.54% and a return on equity of 9.96%. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the company posted $4.58 earnings per share. Teledyne Technologies's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its board has authorized a share buyback program on Wednesday, July 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Simon M. Lorne sold 6,311 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the sale, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. This represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the sale, the director owned 51,328 shares in the company, valued at $28,748,812.80. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,021 shares of company stock worth $8,315,662 over the last three months. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TDY. Needham & Company LLC lowered their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley boosted their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They set a "buy" rating and a $626.00 price target on the stock. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, UBS Group boosted their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Teledyne Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.

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.