Citigroup Inc. Increases Stock Position in TransDigm Group Incorporated (NYSE:TDG)

Citigroup Inc. boosted its stake in shares of TransDigm Group Incorporated (NYSE:TDG) by 36.9% in the third quarter, Holdings Channel reports. The fund owned 120,876 shares of the aerospace company’s stock after purchasing an additional 32,609 shares during the period. Citigroup Inc.’s holdings in TransDigm Group were worth $172,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Darsana Capital Partners LP acquired a new position in TransDigm Group during the second quarter worth about $210,806,000. International Assets Investment Management LLC boosted its holdings in shares of TransDigm Group by 108,517.8% during the third quarter. International Assets Investment Management LLC now owns 48,878 shares of the aerospace company’s stock worth $69,755,000 after purchasing an additional 48,833 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in TransDigm Group by 2,868.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 47,069 shares of the aerospace company’s stock valued at $60,136,000 after buying an additional 48,769 shares during the period. Davidson Kempner Capital Management LP purchased a new position in TransDigm Group during the second quarter worth approximately $35,134,000. Finally, Baskin Financial Services Inc. purchased a new position in shares of TransDigm Group in the 3rd quarter worth $30,404,000. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on TDG. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,500.00 price target on shares of TransDigm Group in a research report on Wednesday, August 7th. Susquehanna increased their target price on TransDigm Group from $1,200.00 to $1,250.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded TransDigm Group from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,461.82.

Insiders Place Their Bets

In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1,401.75, for a total value of $4,205,250.00. Following the transaction, the chief operating officer now directly owns 3,600 shares in the company, valued at $5,046,300. The trade was a 45.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Nicholas Howley sold 5,472 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,376.42, for a total transaction of $7,531,770.24. Following the sale, the director now directly owns 21,548 shares of the company’s stock, valued at approximately $29,659,098.16. The trade was a 20.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock worth $23,541,085 over the last quarter. Company insiders own 4.96% of the company’s stock.

TransDigm Group Price Performance

Shares of TransDigm Group stock opened at $1,240.13 on Friday. TransDigm Group Incorporated has a 52-week low of $949.99 and a 52-week high of $1,451.32. The firm has a market capitalization of $69.73 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.43. The company’s fifty day moving average price is $1,361.91 and its two-hundred day moving average price is $1,318.48.

TransDigm Group Increases Dividend

The firm also recently declared a special dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were given a $75.00 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from TransDigm Group’s previous special dividend of $32.50.

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.