Griffin Asset Management Inc. purchased a new position in Transdigm Group Incorporated (NYSE:TDG – Free Report) in the fourth quarter, Holdings Channel reports. The fund purchased 750 shares of the aerospace company’s stock, valued at approximately $997,000.
A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Transdigm Group by 18.3% in the third quarter. Principal Financial Group Inc. now owns 2,379,816 shares of the aerospace company’s stock worth $3,136,719,000 after buying an additional 367,756 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in Transdigm Group by 7.8% in the third quarter. Vulcan Value Partners LLC now owns 249,643 shares of the aerospace company’s stock worth $328,977,000 after buying an additional 18,048 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Transdigm Group by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 73,818 shares of the aerospace company’s stock worth $97,293,000 after buying an additional 1,706 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in Transdigm Group in the third quarter worth approximately $62,785,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Transdigm Group in the third quarter worth approximately $1,795,000. 95.78% of the stock is owned by hedge funds and other institutional investors.
Transdigm Group Price Performance
TDG opened at $1,198.64 on Thursday. Transdigm Group Incorporated has a fifty-two week low of $1,123.61 and a fifty-two week high of $1,623.82. The firm’s fifty day moving average price is $1,196.95 and its two-hundred day moving average price is $1,286.84. The company has a market capitalization of $67.04 billion, a P/E ratio of 37.41, a P/E/G ratio of 2.06 and a beta of 0.90.
Insiders Place Their Bets
In other Transdigm Group news, COO Joel Reiss sold 3,900 shares of Transdigm Group stock in a transaction on Friday, May 15th. The stock was sold at an average price of $1,154.09, for a total transaction of $4,500,951.00. Following the completion of the transaction, the chief operating officer directly owned 3,600 shares of the company’s stock, valued at approximately $4,154,724. This trade represents a 52.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Nicholas Howley sold 10,132 shares of Transdigm Group stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $1,213.05, for a total value of $12,290,622.60. Following the completion of the transaction, the director directly owned 21,548 shares of the company’s stock, valued at $26,138,801.40. This represents a 31.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 42,096 shares of company stock valued at $51,417,454. Company insiders own 3.20% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on TDG. Deutsche Bank Aktiengesellschaft increased their price target on Transdigm Group from $1,306.00 to $1,350.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. TD Cowen reduced their price target on shares of Transdigm Group from $1,565.00 to $1,450.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Robert W. Baird reissued a “neutral” rating and issued a $1,400.00 price target on shares of Transdigm Group in a report on Wednesday, February 4th. Wells Fargo & Company started coverage on shares of Transdigm Group in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $1,200.00 price target for the company. Finally, KeyCorp downgraded shares of Transdigm Group from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,524.18.
View Our Latest Stock Report on Transdigm Group
Transdigm Group Company Profile
TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components and systems for commercial and military aerospace applications. The company’s product portfolio covers a broad range of mission-critical parts and subsystems, including mechanical and electromechanical components, ignition and fuel system parts, sensors and actuators, cockpit and cabin systems, and other safety-critical hardware. TransDigm supplies original equipment manufacturers (OEMs) as well as the aftermarket, providing spare parts, repair and overhaul services and component support throughout an asset’s life cycle.
TransDigm’s operating model places emphasis on proprietary, niche components that are difficult to replace, and the company operates through a collection of independently run subsidiaries and brands that sell specialized products.
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