TransDigm Group Incorporated (NYSE:TDG) Sees Large Drop in Short Interest

TransDigm Group Incorporated (NYSE:TDGGet Rating) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 922,000 shares, a decrease of 19.1% from the April 15th total of 1,140,000 shares. Based on an average daily volume of 333,600 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.8% of the shares of the company are short sold.

In other news, Director Raymond F. Laubenthal sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $670.00, for a total transaction of $3,350,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Nicholas Howley sold 11,500 shares of the stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $632.64, for a total value of $7,275,360.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,000 shares of company stock valued at $17,890,485. 9.13% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TDG. Tcwp LLC acquired a new stake in shares of TransDigm Group during the 1st quarter worth $29,000. TFO TDC LLC acquired a new stake in TransDigm Group during the fourth quarter worth about $32,000. Duncker Streett & Co. Inc. acquired a new position in shares of TransDigm Group in the 4th quarter valued at about $35,000. Cordasco Financial Network purchased a new stake in shares of TransDigm Group during the 1st quarter worth about $35,000. Finally, Farmers & Merchants Investments Inc. increased its position in TransDigm Group by 51.4% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 56 shares of the aerospace company’s stock worth $36,000 after purchasing an additional 19 shares in the last quarter. 99.33% of the stock is owned by institutional investors.

NYSE:TDG opened at $536.51 on Thursday. The firm has a market cap of $29.75 billion, a PE ratio of 37.34, a P/E/G ratio of 1.80 and a beta of 1.43. The firm has a 50 day simple moving average of $627.03 and a 200-day simple moving average of $628.21. TransDigm Group has a 1-year low of $533.74 and a 1-year high of $688.03.

TransDigm Group (NYSE:TDGGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The aerospace company reported $3.29 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.02). TransDigm Group had a net margin of 17.70% and a negative return on equity of 27.39%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that TransDigm Group will post 13.64 earnings per share for the current year.

Several brokerages have recently weighed in on TDG. Wells Fargo & Company lowered their target price on shares of TransDigm Group from $700.00 to $620.00 in a report on Wednesday, May 11th. Susquehanna Bancshares reduced their price objective on shares of TransDigm Group from $720.00 to $620.00 in a research note on Wednesday, May 11th. Susquehanna dropped their target price on shares of TransDigm Group from $720.00 to $620.00 in a report on Wednesday, May 11th. Morgan Stanley boosted their price target on TransDigm Group from $762.00 to $801.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 9th. Finally, StockNews.com downgraded TransDigm Group from a “buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, TransDigm Group currently has a consensus rating of “Buy” and an average target price of $707.33.

About TransDigm Group (Get Rating)

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. Its 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, batteries and chargers, databus and power controls, sensor products, switches and relay panels, hoists, winches and lifting devices, and cargo loading and handling systems.

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