TransDigm Group (NYSE:TDG) Shares Gap Down – Here’s What Happened

TransDigm Group Incorporated (NYSE:TDG) shares gapped down prior to trading on Friday . The stock had previously closed at $1,419.09, but opened at $1,356.00. TransDigm Group shares last traded at $1,353.06, with a volume of 23,499 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on TDG shares. Truist Financial increased their target price on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Northcoast Research started coverage on shares of TransDigm Group in a report on Thursday, August 1st. They issued a “neutral” rating for the company. Morgan Stanley upped their price target on TransDigm Group from $1,550.00 to $1,575.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their price objective on TransDigm Group from $1,300.00 to $1,325.00 and gave the company a “hold” rating in a research note on Friday, June 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on TransDigm Group from $1,524.00 to $1,577.00 and gave the company a “buy” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,441.35.

TransDigm Group Trading Down 5.2 %

The stock has a fifty day simple moving average of $1,324.46 and a 200-day simple moving average of $1,290.52. The company has a market capitalization of $75.32 billion, a PE ratio of 53.28, a P/E/G ratio of 2.21 and a beta of 1.43.

TransDigm Group (NYSE:TDG) last posted its earnings results on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business earned $6.55 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts predict that TransDigm Group Incorporated will post 30.7 EPS for the current year.

TransDigm Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a $75.00 dividend. The ex-dividend date is Friday, October 4th. This is an increase from TransDigm Group’s previous dividend of $32.50.

Insider Transactions at TransDigm Group

In related news, Director W Nicholas Howley sold 5,472 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1,376.42, for a total value of $7,531,770.24. Following the completion of the sale, the director now directly owns 21,548 shares of the company’s stock, valued at $29,659,098.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $1,375.89, for a total value of $4,127,670.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at approximately $4,953,204. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Nicholas Howley sold 5,472 shares of TransDigm Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1,376.42, for a total value of $7,531,770.24. Following the completion of the transaction, the director now owns 21,548 shares in the company, valued at $29,659,098.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,545 shares of company stock worth $46,454,828. Corporate insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On TransDigm Group

Several institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of TransDigm Group by 283.3% during the 2nd quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock worth $29,000 after buying an additional 17 shares in the last quarter. ORG Partners LLC purchased a new position in TransDigm Group in the first quarter worth $30,000. Meeder Asset Management Inc. raised its position in 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 acquiring an additional 22 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in TransDigm Group in the first quarter valued at $39,000. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of TransDigm Group during the 2nd quarter worth $41,000. 95.78% of the stock is owned by institutional investors and hedge funds.

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.