Resona Asset Management Co. Ltd. Raises Holdings in Transdigm Group Incorporated $TDG

Resona Asset Management Co. Ltd. lifted its position in Transdigm Group Incorporated (NYSE:TDG) by 5.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 18,249 shares of the aerospace company’s stock after acquiring an additional 871 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Transdigm Group were worth $27,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simmons Bank increased its stake in Transdigm Group by 5.1% in the 2nd quarter. Simmons Bank now owns 395 shares of the aerospace company’s stock worth $601,000 after acquiring an additional 19 shares during the last quarter. Ellevest Inc. grew its holdings in shares of Transdigm Group by 9.9% in the second quarter. Ellevest Inc. now owns 200 shares of the aerospace company’s stock valued at $304,000 after purchasing an additional 18 shares in the last quarter. FWG Holdings LLC increased its position in Transdigm Group by 9.0% in the second quarter. FWG Holdings LLC now owns 495 shares of the aerospace company’s stock worth $797,000 after purchasing an additional 41 shares during the last quarter. Cassaday & Co Wealth Management LLC increased its position in Transdigm Group by 4.0% in the second quarter. Cassaday & Co Wealth Management LLC now owns 208 shares of the aerospace company’s stock worth $316,000 after purchasing an additional 8 shares during the last quarter. Finally, NewSquare Capital LLC raised its stake in Transdigm Group by 48.3% during the second quarter. NewSquare Capital LLC now owns 43 shares of the aerospace company’s stock valued at $65,000 after purchasing an additional 14 shares in the last quarter. 95.78% of the stock is owned by institutional investors.

Transdigm Group Price Performance

Shares of NYSE:TDG opened at $1,272.41 on Friday. Transdigm Group Incorporated has a 1 year low of $1,183.60 and a 1 year high of $1,623.82. The business has a 50 day simple moving average of $1,299.17 and a two-hundred day simple moving average of $1,404.46. The firm has a market capitalization of $71.70 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 3.25 and a beta of 1.02.

Transdigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, August 5th. The aerospace company reported $9.60 earnings per share for the quarter, missing the consensus estimate of $9.75 by ($0.15). Transdigm Group had a negative return on equity of 35.27% and a net margin of 20.98%.The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company posted $9.00 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Transdigm Group Incorporated will post 35.13 EPS for the current fiscal year.

Transdigm Group Increases Dividend

The firm also recently announced a special dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $90.00 per share. This is a positive change from Transdigm Group’s previous special dividend of $75.00. The ex-dividend date was Tuesday, September 2nd.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TDG shares. Royal Bank Of Canada downgraded shares of Transdigm Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $1,550.00 to $1,385.00 in a report on Monday, September 8th. KeyCorp dropped their price target on Transdigm Group from $1,700.00 to $1,600.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. BMO Capital Markets initiated coverage on Transdigm Group in a research report on Tuesday, September 30th. They set an “outperform” rating and a $1,420.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Transdigm Group from $1,480.00 to $1,500.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley cut their target price on Transdigm Group from $1,750.00 to $1,600.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Twelve analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Transdigm Group currently has an average rating of “Moderate Buy” and an average target price of $1,564.56.

Insider Activity

In other Transdigm Group news, COO Patrick Joseph Murphy sold 290 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $1,310.00, for a total value of $379,900.00. Following the completion of the sale, the chief operating officer directly owned 1,055 shares of the company’s stock, valued at $1,382,050. The trade was a 21.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Nicholas Howley sold 2,736 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $1,298.87, for a total transaction of $3,553,708.32. Following the completion of the transaction, the director owned 21,548 shares in the company, valued at $27,988,050.76. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,802 shares of company stock valued at $29,917,993. Insiders own 4.09% of the company’s stock.

Transdigm Group Profile

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