MAI Capital Management trimmed its position in shares of TransDigm Group Incorporated (NYSE:TDG – Get Rating) by 89.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,692 shares of the aerospace company's stock after selling 14,333 shares during the quarter. MAI Capital Management's holdings in TransDigm Group were worth $908,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TDG. Tcwp LLC acquired a new stake in shares of TransDigm Group during the first quarter valued at about $29,000. Cordasco Financial Network acquired a new stake in shares of TransDigm Group during the first quarter valued at about $35,000. Core Alternative Capital boosted its stake in shares of TransDigm Group by 885.7% during the first quarter. Core Alternative Capital now owns 69 shares of the aerospace company's stock valued at $45,000 after purchasing an additional 62 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of TransDigm Group during the first quarter valued at about $65,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of TransDigm Group by 181.6% during the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the aerospace company's stock valued at $70,000 after purchasing an additional 69 shares in the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of equities analysts have recently issued reports on TDG shares. JPMorgan Chase & Co. raised their price objective on TransDigm Group from $685.00 to $705.00 in a research report on Wednesday, August 17th. Truist Financial lowered their price objective on TransDigm Group from $786.00 to $700.00 and set a "buy" rating for the company in a research report on Tuesday, July 19th. Wells Fargo & Company raised their price objective on TransDigm Group from $620.00 to $740.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 16th. StockNews.com upgraded TransDigm Group from a "hold" rating to a "buy" rating in a research report on Thursday, August 11th. Finally, Cfra raised their price objective on TransDigm Group to $680.00 in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, TransDigm Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $718.08.
TransDigm Group Stock Performance
Shares of TDG stock opened at $530.40 on Friday. The company has a market cap of $28.77 billion, a P/E ratio of 40.67, a PEG ratio of 1.90 and a beta of 1.42. The stock has a 50 day simple moving average of $612.32 and a two-hundred day simple moving average of $600.50. TransDigm Group Incorporated has a fifty-two week low of $500.08 and a fifty-two week high of $686.06.
TransDigm Group (NYSE:TDG – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The aerospace company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.98 by $0.38. TransDigm Group had a negative return on equity of 30.80% and a net margin of 15.56%. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the firm posted $2.89 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts predict that TransDigm Group Incorporated will post 15.01 earnings per share for the current year.
TransDigm Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 19th were paid a $18.50 dividend. The ex-dividend date was Thursday, August 18th. This represents a $74.00 dividend on an annualized basis and a yield of 13.95%.
Insider Buying and Selling at TransDigm Group
In other TransDigm Group news, Director Sean P. Hennessy sold 4,478 shares of the firm's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $678.14, for a total value of $3,036,710.92. Following the completion of the sale, the director now owns 33,935 shares of the company's stock, valued at $23,012,680.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TransDigm Group news, Director Sean P. Hennessy sold 4,478 shares of the firm's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $678.14, for a total value of $3,036,710.92. Following the completion of the sale, the director now owns 33,935 shares of the company's stock, valued at $23,012,680.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin M. Stein sold 35,500 shares of TransDigm Group stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $661.68, for a total value of $23,489,640.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,978 shares of company stock valued at $39,563,556. Company insiders own 8.96% of the company's stock.
TransDigm Group Profile
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TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. Its 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.
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