Envestnet Asset Management Inc. lessened its stake in TransDigm Group Incorporated (NYSE:TDG – Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,793 shares of the aerospace company’s stock after selling 1,532 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of TransDigm Group worth $30,803,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Greenleaf Trust boosted its holdings in shares of TransDigm Group by 4.8% during the 1st quarter. Greenleaf Trust now owns 1,403 shares of the aerospace company’s stock worth $1,034,000 after buying an additional 64 shares during the period. Rhumbline Advisers increased its holdings in TransDigm Group by 3.1% during the first quarter. Rhumbline Advisers now owns 103,933 shares of the aerospace company’s stock worth $76,604,000 after buying an additional 3,129 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of TransDigm Group by 1.5% in the first quarter. Commonwealth Equity Services LLC now owns 1,071 shares of the aerospace company’s stock worth $790,000 after purchasing an additional 16 shares in the last quarter. Citigroup Inc. boosted its position in shares of TransDigm Group by 9.4% in the first quarter. Citigroup Inc. now owns 44,729 shares of the aerospace company’s stock valued at $32,968,000 after acquiring an additional 3,830 shares during the period. Finally, Smithfield Trust Co boosted its position in shares of TransDigm Group by 75.0% in the first quarter. Smithfield Trust Co now owns 56 shares of the aerospace company’s stock valued at $42,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on TDG shares. Truist Financial lifted their target price on shares of TransDigm Group from $870.00 to $1,044.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Morgan Stanley increased their price objective on shares of TransDigm Group from $793.00 to $1,000.00 in a research note on Monday, May 15th. Bank of America raised their target price on shares of TransDigm Group from $980.00 to $1,000.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Wells Fargo & Company lifted their price objective on TransDigm Group from $840.00 to $910.00 and gave the company an “equal weight” rating in a report on Tuesday, August 15th. Finally, StockNews.com lowered TransDigm Group from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $920.54.
Insider Activity at TransDigm Group
In other TransDigm Group news, CEO Kevin M. Stein sold 11,833 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $798.13, for a total transaction of $9,444,272.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other TransDigm Group news, CEO Kevin M. Stein sold 11,833 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $798.13, for a total value of $9,444,272.29. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director W Nicholas Howley sold 3,250 shares of TransDigm Group stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $812.77, for a total transaction of $2,641,502.50. Following the completion of the sale, the director now directly owns 21,548 shares of the company’s stock, valued at $17,513,567.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,602 shares of company stock worth $51,247,446. Insiders own 7.18% of the company’s stock.
TransDigm Group Price Performance
TransDigm Group stock opened at $893.58 on Wednesday. The firm has a 50-day moving average of $879.42 and a 200-day moving average of $803.48. TransDigm Group Incorporated has a one year low of $499.63 and a one year high of $940.00. The company has a market cap of $49.31 billion, a price-to-earnings ratio of 47.61, a P/E/G ratio of 1.50 and a beta of 1.38.
TransDigm Group (NYSE:TDG – Get Free Report) last issued its earnings results on Tuesday, August 8th. The aerospace company reported $7.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.87 by $1.38. TransDigm Group had a net margin of 18.41% and a negative return on equity of 39.57%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $4.36 EPS. TransDigm Group’s revenue was up 24.7% on a year-over-year basis. As a group, sell-side analysts expect that TransDigm Group Incorporated will post 23.18 earnings per share for the current year.
About TransDigm Group
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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