Texas Permanent School Fund reduced its stake in shares of TransDigm Group Incorporated (NYSE:TDG) by 8.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,870 shares of the aerospace company’s stock after selling 1,030 shares during the quarter. Texas Permanent School Fund’s holdings in TransDigm Group were worth $4,047,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in TransDigm Group by 0.7% during the first quarter. Principal Financial Group Inc. now owns 2,830,439 shares of the aerospace company’s stock valued at $868,776,000 after buying an additional 21,036 shares in the last quarter. FMR LLC raised its holdings in TransDigm Group by 36.4% during the second quarter. FMR LLC now owns 1,413,320 shares of the aerospace company’s stock valued at $487,794,000 after buying an additional 376,984 shares in the last quarter. Mainstay Capital Management LLC ADV raised its holdings in TransDigm Group by 25,276.7% during the second quarter. Mainstay Capital Management LLC ADV now owns 840,475 shares of the aerospace company’s stock valued at $2,692,000 after buying an additional 837,163 shares in the last quarter. Meritage Group LP raised its holdings in TransDigm Group by 0.6% during the second quarter. Meritage Group LP now owns 541,540 shares of the aerospace company’s stock valued at $186,907,000 after buying an additional 3,002 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in TransDigm Group by 0.8% during the second quarter. Wells Fargo & Company MN now owns 283,844 shares of the aerospace company’s stock valued at $97,965,000 after buying an additional 2,273 shares in the last quarter.
In related news, Director Raymond F. Laubenthal sold 11,900 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $326.65, for a total transaction of $3,887,135.00. Following the transaction, the director now directly owns 25,193 shares in the company, valued at $8,229,293.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Skulina sold 10,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $355.06, for a total value of $3,550,600.00. Following the transaction, the insider now owns 14,000 shares in the company, valued at $4,970,840. The disclosure for this sale can be found here. Insiders sold 45,700 shares of company stock worth $15,998,357 over the last quarter. 11.45% of the stock is currently owned by corporate insiders.
TransDigm Group (NYSE:TDG) last posted its quarterly earnings data on Tuesday, August 7th. The aerospace company reported $4.01 EPS for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.06). The business had revenue of $980.70 million during the quarter, compared to the consensus estimate of $995.06 million. TransDigm Group had a negative return on equity of 29.79% and a net margin of 20.68%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 earnings per share. On average, research analysts predict that TransDigm Group Incorporated will post 16.85 EPS for the current fiscal year.
Several research firms have weighed in on TDG. Cowen upgraded TransDigm Group from a “market perform” rating to an “outperform” rating and set a $408.00 target price on the stock in a report on Wednesday, July 11th. Morgan Stanley raised their target price on TransDigm Group from $341.00 to $372.00 and gave the company an “equal weight” rating in a report on Thursday, July 12th. UBS Group began coverage on TransDigm Group in a report on Wednesday, August 15th. They set a “buy” rating and a $430.00 target price on the stock. Jefferies Financial Group restated a “hold” rating and set a $375.00 target price on shares of TransDigm Group in a report on Tuesday, August 7th. Finally, Credit Suisse Group lifted their price objective on TransDigm Group from $400.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. TransDigm Group presently has a consensus rating of “Buy” and an average price target of $378.40.
TransDigm Group Company Profile
TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States. The company's 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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