State Treasurer State of Michigan increased its stake in TransDigm Group Incorporated (NYSE:TDG) by 0.7% during the 1st quarter, HoldingsChannel reports. The fund owned 14,004 shares of the aerospace company’s stock after purchasing an additional 100 shares during the quarter. State Treasurer State of Michigan’s holdings in TransDigm Group were worth $6,358,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lenox Wealth Management Inc. acquired a new stake in TransDigm Group in the first quarter valued at $25,000. Pinnacle Bank acquired a new stake in TransDigm Group in the fourth quarter valued at $37,000. Carroll Financial Associates Inc. raised its stake in TransDigm Group by 56.9% in the first quarter. Carroll Financial Associates Inc. now owns 113 shares of the aerospace company’s stock valued at $51,000 after buying an additional 41 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in TransDigm Group in the fourth quarter valued at $39,000. Finally, JOYN Advisors Inc. raised 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 buying an additional 33 shares in the last quarter.
TDG opened at $467.45 on Thursday. TransDigm Group Incorporated has a one year low of $307.36 and a one year high of $489.95. The stock has a market cap of $24.07 billion, a PE ratio of 27.51, a PEG ratio of 1.97 and a beta of 1.01.
TransDigm Group (NYSE:TDG) last posted its earnings results on Tuesday, May 7th. The aerospace company reported $4.21 EPS for the quarter, topping the Zacks’ consensus estimate of $3.73 by $0.48. TransDigm Group had a negative return on equity of 50.29% and a net margin of 19.44%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $3.79 earnings per share. The business’s revenue was up 28.2% compared to the same quarter last year. Research analysts forecast that TransDigm Group Incorporated will post 16.12 EPS for the current fiscal year.
In other news, Chairman W Nicholas Howley sold 17,083 shares of TransDigm Group stock in a transaction dated Thursday, May 9th. The stock was 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 is accessible through the SEC website. Also, Director Mervin Dunn sold 8,944 shares of TransDigm Group stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $432.28, for a total value of $3,866,312.32. The disclosure for this sale can be found here. Insiders have sold 69,793 shares of company stock worth $31,178,900 in the last quarter. Insiders own 11.00% of the company’s stock.
A number of analysts have weighed in on the company. Credit Suisse Group raised their price target on TransDigm Group from $476.00 to $539.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Canaccord Genuity restated a “buy” rating and issued a $520.00 price target (up from $460.00) on shares of TransDigm Group in a research note on Wednesday, May 8th. JPMorgan Chase & Co. raised their price target on TransDigm Group from $465.00 to $515.00 and gave the company an “underweight” rating in a research note on Tuesday. Longbow Research assumed coverage on TransDigm Group in a research note on Tuesday, April 9th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded TransDigm Group from a “hold” rating to a “buy” rating and set a $513.00 price target on the stock in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $454.64.
TransDigm Group Company Profile
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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