TransDigm Group (TDG) PT Raised to $408.00 at Credit Suisse Group
TransDigm Group (NYSE:TDG) had its target price increased by Credit Suisse Group from $400.00 to $408.00 in a report issued on Wednesday, The Fly reports. Credit Suisse Group currently has an outperform rating on the aerospace company’s stock.
A number of other equities analysts have also issued reports on TDG. Canaccord Genuity increased their price target on TransDigm Group from $350.00 to $375.00 and gave the company a positive rating in a research note on Friday, June 29th. Cowen reiterated a buy rating on shares of TransDigm Group in a research report on Tuesday, August 7th. ValuEngine upgraded TransDigm Group from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Jefferies Financial Group increased their price objective on TransDigm Group from $323.00 to $350.00 and gave the company a hold rating in a research report on Friday, June 29th. Finally, Morgan Stanley increased their price objective on TransDigm Group from $341.00 to $372.00 and gave the company an equal weight rating in a research report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $360.00.
NYSE TDG traded down $2.36 on Wednesday, reaching $357.02. 288,925 shares of the stock traded hands, compared to its average volume of 377,354. The company has a debt-to-equity ratio of -5.96, a quick ratio of 2.09 and a current ratio of 4.14. The firm has a market cap of $18.91 billion, a P/E ratio of 26.84, a PEG ratio of 1.86 and a beta of 0.85. TransDigm Group has a 12 month low of $249.57 and a 12 month high of $377.67.
In other news, Director Raymond F. Laubenthal sold 11,900 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $361.06, for a total value of $4,296,614.00. Following the completion of the sale, the director now owns 25,112 shares in the company, valued at $9,066,938.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Roger Jones sold 5,000 shares of the stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $323.78, for a total value of $1,618,900.00. The disclosure for this sale can be found here. Insiders sold 55,700 shares of company stock valued at $18,975,104 in the last 90 days. Corporate insiders own 10.52% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new position in TransDigm Group during the first quarter worth $2,444,000. Smithfield Trust Co. grew its position in shares of TransDigm Group by 800.0% in the second quarter. Smithfield Trust Co. now owns 315 shares of the aerospace company’s stock valued at $108,000 after purchasing an additional 280 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of TransDigm Group by 4.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 182,440 shares of the aerospace company’s stock valued at $55,999,000 after purchasing an additional 8,508 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in shares of TransDigm Group by 4.2% in the second quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the aerospace company’s stock valued at $2,354,000 after purchasing an additional 275 shares during the last quarter. Finally, Norinchukin Bank The grew its position in shares of TransDigm Group by 15.1% in the first quarter. Norinchukin Bank The now owns 4,447 shares of the aerospace company’s stock valued at $1,365,000 after purchasing an additional 583 shares during the last quarter.
About TransDigm Group
TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States. The company's 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, databus and power controls, hoists, winches and lifting devices, and cargo loading and handling systems.
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