Arizona State Retirement System Reduces Stake in Transdigm Group Incorporated (TDG)
Arizona State Retirement System decreased its position in Transdigm Group Incorporated (NYSE:TDG) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,100 shares of the aerospace company’s stock after selling 200 shares during the period. Arizona State Retirement System’s holdings in Transdigm Group were worth $3,253,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDG. Korea Investment CORP increased its position in Transdigm Group by 142.6% in the second quarter. Korea Investment CORP now owns 495 shares of the aerospace company’s stock worth $133,000 after buying an additional 291 shares in the last quarter. Neville Rodie & Shaw Inc. bought a new position in shares of Transdigm Group during the second quarter valued at $200,000. Plancorp LLC bought a new position in shares of Transdigm Group during the second quarter valued at $213,000. Janney Montgomery Scott LLC bought a new position in shares of Transdigm Group during the second quarter valued at $234,000. Finally, Palisade Capital Management LLC NJ bought a new position in shares of Transdigm Group during the first quarter valued at $220,000.
Shares of Transdigm Group Incorporated (TDG) opened at 280.36 on Thursday. The stock has a 50 day moving average price of $277.88 and a 200 day moving average price of $254.27. The firm has a market capitalization of $14.55 billion, a PE ratio of 31.15 and a beta of 0.56. Transdigm Group Incorporated has a 12-month low of $203.72 and a 12-month high of $295.00.
Transdigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.32. The business had revenue of $907.67 million during the quarter, compared to analyst estimates of $903.99 million. Transdigm Group had a net margin of 14.47% and a negative return on equity of 40.12%. Transdigm Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.09 earnings per share. Analysts predict that Transdigm Group Incorporated will post $12.30 EPS for the current fiscal year.
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Several research analysts have weighed in on TDG shares. Canaccord Genuity reiterated a “buy” rating and issued a $300.00 target price on shares of Transdigm Group in a research note on Saturday, April 22nd. Zacks Investment Research upgraded Transdigm Group from a “sell” rating to a “buy” rating and set a $272.00 target price on the stock in a research note on Monday, May 15th. Deutsche Bank AG reiterated a “buy” rating and issued a $305.00 target price on shares of Transdigm Group in a research note on Tuesday, June 13th. Royal Bank Of Canada reiterated a “buy” rating and issued a $316.00 target price on shares of Transdigm Group in a research note on Friday, May 19th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Transdigm Group in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Transdigm Group presently has an average rating of “Buy” and an average price target of $297.52.
In related news, Director Raymond F. Laubenthal sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $281.81, for a total value of $1,690,860.00. Following the completion of the sale, the director now owns 75,701 shares of the company’s stock, valued at $21,333,298.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jorge Valladares sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $276.00, for a total transaction of $27,600.00. Following the completion of the sale, the insider now directly owns 9,100 shares of the company’s stock, valued at approximately $2,511,600. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock valued at $4,952,017. 10.52% of the stock is currently owned by company insiders.
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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