FIL Ltd lessened its position in shares of TransDigm Group Incorporated (NYSE:TDG) by 31.9% in the first quarter, Holdings Channel reports. The institutional investor owned 9,995 shares of the aerospace company’s stock after selling 4,682 shares during the period. FIL Ltd’s holdings in TransDigm Group were worth $4,537,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Lenox Wealth Management Inc. bought a new stake in TransDigm Group in the first quarter valued at $25,000. Bremer Bank National Association bought a new stake in TransDigm Group in the first quarter valued at $32,000. Pinnacle Bank bought a new stake in TransDigm Group in the fourth quarter valued at $37,000. Machina Capital S.A.S. bought a new stake in TransDigm Group in the fourth quarter valued at $39,000. Finally, JOYN Advisors Inc. increased its stake in TransDigm Group by 33.3% in the fourth quarter. JOYN Advisors Inc. now owns 132 shares of the aerospace company’s stock valued at $45,000 after purchasing an additional 33 shares in the last quarter. 99.09% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman W Nicholas Howley sold 17,083 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $466.89, for a total transaction of $7,975,881.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert S. Henderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $467.38, for a total transaction of $4,673,800.00. Following the transaction, the vice president now owns 35,000 shares in the company, valued at $16,358,300. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,749 shares of company stock worth $29,720,926. 11.00% of the stock is owned by corporate insiders.
TDG has been the subject of several recent research reports. Credit Suisse Group boosted their target price on shares of TransDigm Group from $476.00 to $539.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Canaccord Genuity reissued a “buy” rating and set a $520.00 target price (up from $460.00) on shares of TransDigm Group in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of TransDigm Group from $465.00 to $515.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised shares of TransDigm Group from a “hold” rating to a “buy” rating and set a $513.00 target price for the company in a research report on Tuesday, April 16th. Finally, Cowen reissued a “buy” rating and set a $520.00 target price (up from $460.00) on shares of TransDigm Group in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $468.09.
TransDigm Group stock opened at $473.06 on Friday. TransDigm Group Incorporated has a fifty-two week low of $307.36 and a fifty-two week high of $489.95. The stock has a market cap of $24.84 billion, a P/E ratio of 27.84, a PEG ratio of 2.45 and a beta of 1.05.
TransDigm Group (NYSE:TDG) last released its quarterly earnings results on Tuesday, May 7th. The aerospace company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.48. TransDigm Group had a net margin of 19.44% and a negative return on equity of 50.29%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $3.79 earnings per share. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, analysts predict that TransDigm Group Incorporated will post 16.12 EPS for the current year.
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About TransDigm Group
TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The company operates in three segments: Power & Control, Airframe, and Non-aviation. The Power & Control segment offers mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, databus and power controls, hoists, winches and lifting devices, and cargo loading and handling systems.
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