TransDigm Group (NYSE:TDG) Reaches New 52-Week High Following Dividend Announcement

TransDigm Group Incorporated (NYSE:TDG) shares reached a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $1,423.02 and last traded at $1,411.34, with a volume of 5518 shares traded. The stock had previously closed at $1,408.03.

The newly announced dividend which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $75.00 dividend. The ex-dividend date is Friday, October 4th. This is a boost from TransDigm Group’s previous dividend of $32.50.

Analysts Set New Price Targets

TDG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on TransDigm Group from $1,435.00 to $1,524.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. KeyCorp increased their price objective on TransDigm Group from $1,325.00 to $1,440.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Royal Bank of Canada restated an “outperform” rating and issued a $1,500.00 target price on shares of TransDigm Group in a research note on Wednesday, August 7th. Bank of America raised their target price on TransDigm Group from $1,310.00 to $1,460.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Morgan Stanley raised their target price on TransDigm Group from $1,550.00 to $1,575.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,438.24.

TransDigm Group Stock Performance

The firm has a market cap of $78.82 billion, a P/E ratio of 55.85, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42. The stock has a fifty day simple moving average of $1,294.01 and a 200 day simple moving average of $1,276.52.

TransDigm Group (NYSE:TDG) last posted its earnings results on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, topping analysts’ consensus estimates of $7.77 by $1.23. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the company earned $6.55 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Research analysts predict that TransDigm Group Incorporated will post 30.69 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Joel Reiss sold 3,000 shares of TransDigm Group stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,241.60, for a total value of $3,724,800.00. Following the completion of the sale, the chief operating officer now owns 3,600 shares of the company’s stock, valued at $4,469,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director W Nicholas Howley sold 5,073 shares of TransDigm Group stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,242.30, for a total transaction of $6,302,187.90. Following the transaction, the director now directly owns 21,548 shares in the company, valued at $26,769,080.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joel Reiss sold 3,000 shares of TransDigm Group stock in a transaction on Monday, July 15th. The shares were sold at an average price of $1,241.60, for a total value of $3,724,800.00. Following the transaction, the chief operating officer now owns 3,600 shares in the company, valued at $4,469,760. The disclosure for this sale can be found here. Insiders sold 36,545 shares of company stock valued at $46,454,828 over the last 90 days. Company insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On TransDigm Group

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC lifted its position in shares of TransDigm Group by 283.3% in the second quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 17 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of TransDigm Group in the first quarter worth about $30,000. Meeder Asset Management Inc. lifted its position in shares of TransDigm Group by 275.0% in the second quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock worth $38,000 after buying an additional 22 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of TransDigm Group in the first quarter worth about $39,000. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of TransDigm Group in the second quarter worth about $41,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

About TransDigm Group

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The 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.