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Verition Fund Management LLC Takes $541,000 Position in TransDigm Group Incorporated (NYSE:TDG)

Defense World · Sep 24, 2022 04:31

Verition Fund Management LLC bought a new stake in shares of TransDigm Group Incorporated (NYSE:TDG – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 831 shares of the aerospace company's stock, valued at approximately $541,000.

A number of other hedge funds have also recently modified their holdings of the business. Wetherby Asset Management Inc. boosted its holdings in shares of TransDigm Group by 0.4% during the 4th quarter. Wetherby Asset Management Inc. now owns 3,866 shares of the aerospace company's stock valued at $2,460,000 after buying an additional 16 shares in the last quarter. Cedar Brook Financial Partners LLC boosted its holdings in shares of TransDigm Group by 3.8% during the 1st quarter. Cedar Brook Financial Partners LLC now owns 489 shares of the aerospace company's stock valued at $319,000 after buying an additional 18 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of TransDigm Group by 5.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 356 shares of the aerospace company's stock worth $232,000 after purchasing an additional 18 shares during the last quarter. Echo Street Capital Management LLC raised its position in shares of TransDigm Group by 3.3% in the 1st quarter. Echo Street Capital Management LLC now owns 595 shares of the aerospace company's stock worth $388,000 after purchasing an additional 19 shares during the last quarter. Finally, Securian Asset Management Inc. raised its position in shares of TransDigm Group by 0.5% in the 1st quarter. Securian Asset Management Inc. now owns 4,418 shares of the aerospace company's stock worth $2,879,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 95.43% of the company's stock.

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Insider Activity at TransDigm Group

In related news, CEO Kevin M. Stein sold 35,500 shares of the business's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $661.68, for a total transaction of $23,489,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kevin M. Stein sold 35,500 shares of the business's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $661.68, for a total transaction of $23,489,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Nicholas Howley sold 11,500 shares of the business's stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $540.70, for a total value of $6,218,050.00. Following the transaction, the director now owns 21,548 shares of the company's stock, valued at $11,651,003.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,978 shares of company stock worth $39,563,556. 8.96% of the stock is owned by company insiders.

TransDigm Group Stock Down 2.6 %

NYSE TDG opened at $540.51 on Friday. TransDigm Group Incorporated has a 52 week low of $500.08 and a 52 week high of $686.06. The firm has a market capitalization of $29.31 billion, a P/E ratio of 41.45, a PEG ratio of 2.00 and a beta of 1.42. The company has a 50-day moving average price of $615.48 and a 200-day moving average price of $603.11.

TransDigm Group (NYSE:TDG – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The aerospace company reported $4.85 EPS for the quarter, beating the consensus estimate of $3.98 by $0.87. TransDigm Group had a net margin of 15.56% and a negative return on equity of 30.80%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $2.89 EPS. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that TransDigm Group Incorporated will post 15.01 EPS for the current year.

TransDigm Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 19th were paid a dividend of $18.50 per share. The ex-dividend date was Thursday, August 18th. This represents a $74.00 dividend on an annualized basis and a dividend yield of 13.69%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TDG. Truist Financial lowered their price target 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. JPMorgan Chase & Co. lifted their price target on TransDigm Group from $685.00 to $705.00 in a research report on Wednesday, August 17th. StockNews.com raised TransDigm Group from a "hold" rating to a "buy" rating in a research report on Thursday, August 11th. Cfra lifted their price target on TransDigm Group to $680.00 in a research report on Monday, August 15th. Finally, TheStreet raised TransDigm Group from a "c" rating to a "b-" rating in a research report on Thursday, August 18th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $718.08.

TransDigm Group Company 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.