Canaccord Genuity reiterated their buy rating on shares of Transdigm Group Incorporated (NYSE:TDG) in a research note released on Friday. They currently have a $330.00 price objective on the aerospace company’s stock.
TDG has been the subject of several other reports. Cowen and Company restated a market perform rating and set a $290.00 price target (up from $219.00) on shares of Transdigm Group in a report on Thursday, August 10th. Zacks Investment Research downgraded Transdigm Group from a buy rating to a hold rating in a report on Monday, June 5th. BidaskClub downgraded Transdigm Group from a strong-buy rating to a buy rating in a report on Monday, July 31st. Jefferies Group LLC restated a buy rating and set a $283.00 price target on shares of Transdigm Group in a report on Friday, July 14th. Finally, Vertical Research restated a buy rating and set a $316.00 price target (up from $280.00) on shares of Transdigm Group in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $297.52.
Shares of Transdigm Group (NYSE:TDG) opened at 264.64 on Friday. The firm’s 50-day moving average is $269.70 and its 200-day moving average is $257.48. Transdigm Group has a 52 week low of $203.72 and a 52 week high of $295.00. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 29.40 and a beta of 0.54.
Transdigm Group (NYSE:TDG) last posted its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.32. The business had revenue of $907.67 million during the quarter, compared to the consensus estimate of $903.99 million. Transdigm Group had a negative return on equity of 40.12% and a net margin of 14.47%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.09 earnings per share. Equities research analysts predict that Transdigm Group will post $12.30 earnings per share for the current year.
The firm also recently disclosed a special dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, September 5th were issued a $22.00 dividend. The ex-dividend date of this dividend was Thursday, August 31st.
In other Transdigm Group news, insider Jorge Valladares sold 100 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $276.00, for a total value of $27,600.00. Following the transaction, the insider now directly owns 9,100 shares of the company’s stock, valued at $2,511,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond F. Laubenthal sold 6,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $281.81, for a total value of $1,690,860.00. Following the completion of the transaction, the director now directly owns 75,701 shares in the company, valued at $21,333,298.81. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock valued at $6,549,337 over the last quarter. 10.52% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in TDG. Tiger Global Management LLC boosted its position in Transdigm Group by 57.4% in the second quarter. Tiger Global Management LLC now owns 4,000,000 shares of the aerospace company’s stock worth $1,075,480,000 after purchasing an additional 1,459,272 shares during the last quarter. Valinor Management L.P. purchased a new position in Transdigm Group in the first quarter worth about $113,220,000. Capital International Investors boosted its position in Transdigm Group by 51.8% in the second quarter. Capital International Investors now owns 1,332,593 shares of the aerospace company’s stock worth $358,294,000 after purchasing an additional 454,568 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in Transdigm Group by 146.8% in the first quarter. TimesSquare Capital Management LLC now owns 661,625 shares of the aerospace company’s stock worth $145,663,000 after purchasing an additional 393,525 shares during the last quarter. Finally, Morgan Stanley boosted its position in Transdigm Group by 37.7% in the first quarter. Morgan Stanley now owns 1,408,740 shares of the aerospace company’s stock worth $310,149,000 after purchasing an additional 385,775 shares during the last quarter.
Transdigm Group Company Profile
TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft in service. The Company operates through three segments: Power & Control, Airframe and Non-aviation. The Power & Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.
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