Resona Asset Management Co. Ltd. Purchases New Stake in TransDigm Group Incorporated (NYSE:TDG)

Resona Asset Management Co. Ltd. purchased a new position in TransDigm Group Incorporated (NYSE:TDG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,036 shares of the aerospace company’s stock, valued at approximately $20,376,000.

A number of other hedge funds have also recently modified their holdings of TDG. HighTower Advisors LLC raised its position in TransDigm Group by 82.9% during the 3rd quarter. HighTower Advisors LLC now owns 15,216 shares of the aerospace company’s stock valued at $21,663,000 after purchasing an additional 6,895 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of TransDigm Group by 11.9% during the third quarter. IHT Wealth Management LLC now owns 188 shares of the aerospace company’s stock valued at $268,000 after acquiring an additional 20 shares in the last quarter. Stifel Financial Corp lifted its stake in TransDigm Group by 10.4% in the third quarter. Stifel Financial Corp now owns 54,360 shares of the aerospace company’s stock worth $77,578,000 after acquiring an additional 5,116 shares during the period. Two Sigma Advisers LP boosted its holdings in TransDigm Group by 2,955.6% in the third quarter. Two Sigma Advisers LP now owns 27,500 shares of the aerospace company’s stock valued at $39,246,000 after acquiring an additional 26,600 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in TransDigm Group by 0.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,913 shares of the aerospace company’s stock valued at $2,730,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TDG shares. Deutsche Bank Aktiengesellschaft cut shares of TransDigm Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $1,444.00 to $1,348.00 in a research report on Thursday, January 2nd. UBS Group upgraded shares of TransDigm Group from a “neutral” rating to a “buy” rating and set a $1,595.00 price objective for the company in a report on Monday, February 24th. Susquehanna upped their target price on TransDigm Group from $1,250.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial raised their target price on TransDigm Group from $1,482.00 to $1,534.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $1,500.00 price target on shares of TransDigm Group in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, TransDigm Group has an average rating of “Moderate Buy” and an average price target of $1,480.12.

TransDigm Group Trading Down 9.1 %

TDG stock opened at $1,238.81 on Friday. The stock has a market capitalization of $69.48 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08. The stock’s 50 day simple moving average is $1,343.93 and its 200 day simple moving average is $1,329.63. TransDigm Group Incorporated has a 12-month low of $1,176.31 and a 12-month high of $1,451.32.

TransDigm Group (NYSE:TDG) last issued its quarterly earnings data on Tuesday, February 4th. The aerospace company reported $7.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.73 by $0.84. TransDigm Group had a net margin of 20.76% and a negative return on equity of 42.87%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $7.16 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts predict that TransDigm Group Incorporated will post 35.13 earnings per share for the current year.

Insider Activity

In other news, Director W Nicholas Howley sold 5,472 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $1,296.77, for a total value of $7,095,925.44. Following the transaction, the director now owns 21,548 shares of the company’s stock, valued at $27,942,799.96. This trade represents a 20.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin M. Stein sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $1,267.21, for a total value of $25,344,200.00. Following the transaction, the chief executive officer now owns 8,158 shares of the company’s stock, valued at approximately $10,337,899.18. This trade represents a 71.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,594 shares of company stock valued at $165,646,468 in the last quarter. 4.09% of the stock is currently owned by insiders.

About TransDigm Group

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.