BlackRock Inc. Purchases 37,025 Shares of Transdigm Group Incorporated (TDG)
BlackRock Inc. raised its position in shares of Transdigm Group Incorporated (NYSE:TDG) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,992,584 shares of the aerospace company’s stock after purchasing an additional 37,025 shares during the quarter. BlackRock Inc. owned 7.67% of Transdigm Group worth $1,073,487,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Transdigm Group by 3.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 382 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 14 shares during the period. Korea Investment CORP grew its stake in shares of Transdigm Group by 142.6% during the 2nd quarter. Korea Investment CORP now owns 495 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 291 shares during the period. Neville Rodie & Shaw Inc. bought a new stake in shares of Transdigm Group during the 2nd quarter valued at about $200,000. Plancorp LLC bought a new stake in shares of Transdigm Group during the 2nd quarter valued at about $213,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Transdigm Group during the 2nd quarter valued at about $220,000.
Shares of Transdigm Group Incorporated (NYSE:TDG) opened at 256.15 on Monday. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 28.46 and a beta of 0.54. The company’s 50-day moving average price is $270.22 and its 200 day moving average price is $257.31. 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.32. The firm had revenue of $907.67 million for the quarter, compared to analyst estimates of $903.99 million. Transdigm Group had a negative return on equity of 40.12% and a net margin of 14.47%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.09 earnings per share. On average, equities analysts predict that Transdigm Group Incorporated will post $12.30 earnings per share for the current year.
The company also recently declared a special dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, September 5th were paid a $22.00 dividend. The ex-dividend date of this dividend was Thursday, August 31st.
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In other news, Director Raymond F. Laubenthal sold 6,000 shares of Transdigm Group stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $277.56, for a total value of $1,665,360.00. Following the sale, the director now directly owns 75,701 shares of the company’s stock, valued at $21,011,569.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jorge Valladares sold 5,900 shares of Transdigm Group stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $278.03, for a total value of $1,640,377.00. Following the completion of the sale, the insider now directly owns 14,900 shares in the company, valued at $4,142,647. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock worth $5,024,197 over the last ninety days. Corporate insiders own 10.52% of the company’s stock.
TDG has been the subject of a number of recent research reports. Cowen and Company reiterated a “market perform” rating and set a $290.00 price objective (up from $219.00) on shares of Transdigm Group in a research note on Thursday, August 10th. Zacks Investment Research downgraded Transdigm Group from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. BidaskClub downgraded Transdigm Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Canaccord Genuity reiterated a “buy” rating and set a $300.00 price objective on shares of Transdigm Group in a research note on Thursday, May 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $283.00 price objective on shares of Transdigm Group in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued 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 target price of $297.52.
About Transdigm Group
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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