BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of TransDigm Group Incorporated (NYSE:TDG) by 2.7% in the 1st quarter, HoldingsChannel reports. The firm owned 8,468 shares of the aerospace company’s stock after selling 238 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in TransDigm Group were worth $4,979,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new position in TransDigm Group during the fourth quarter worth about $27,000. Vantage Consulting Group Inc purchased a new position in TransDigm Group during the fourth quarter worth about $39,000. CX Institutional raised its holdings in TransDigm Group by 64.1% during the fourth quarter. CX Institutional now owns 64 shares of the aerospace company’s stock worth $40,000 after purchasing an additional 25 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in TransDigm Group by 336.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 83 shares of the aerospace company’s stock worth $51,000 after purchasing an additional 64 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in TransDigm Group during the fourth quarter worth about $53,000. 97.17% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on TDG shares. Credit Suisse Group upped their target price on shares of TransDigm Group from $647.00 to $663.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. TheStreet lowered shares of TransDigm Group from a “b-” rating to a “c+” rating in a research report on Tuesday, January 26th. Zacks Investment Research downgraded shares of TransDigm Group from a “buy” rating to a “hold” rating and set a $611.00 price objective on the stock. in a research note on Monday, February 15th. Morgan Stanley increased their price target on shares of TransDigm Group from $772.00 to $780.00 and gave the stock an “overweight” rating in a research note on Thursday, February 11th. Finally, Bank of America downgraded shares of TransDigm Group from a “buy” rating to a “neutral” rating and set a $670.00 price target on the stock. in a research note on Thursday, January 14th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $657.23.
TransDigm Group (NYSE:TDG) last posted its earnings results on Tuesday, May 11th. The aerospace company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.38. TransDigm Group had a net margin of 10.07% and a negative return on equity of 18.70%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company posted $5.10 earnings per share. The business’s revenue for the quarter was down 17.3% compared to the same quarter last year. On average, equities analysts forecast that TransDigm Group Incorporated will post 9.99 earnings per share for the current fiscal year.
In related news, CEO Kevin M. Stein sold 9,900 shares of the company’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $609.49, for a total value of $6,033,951.00. Following the sale, the chief executive officer now directly owns 11,247 shares of the company’s stock, valued at $6,854,934.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman W Nicholas Howley sold 11,500 shares of the company’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $622.13, for a total transaction of $7,154,495.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,800 shares of company stock worth $41,143,618. Corporate insiders own 8.17% of the company’s stock.
TransDigm Group Profile
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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