Ascent Group LLC Increases Position in TransDigm Group Incorporated (NYSE:TDG)

Ascent Group LLC boosted its holdings in TransDigm Group Incorporated (NYSE:TDG) by 2.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,018 shares of the aerospace company’s stock after purchasing an additional 26 shares during the quarter. Ascent Group LLC’s holdings in TransDigm Group were worth $1,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in TransDigm Group by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,047,083 shares of the aerospace company’s stock worth $7,447,587,000 after purchasing an additional 58,243 shares during the period. Capital World Investors grew its holdings in TransDigm Group by 14.3% in the first quarter. Capital World Investors now owns 3,535,539 shares of the aerospace company’s stock worth $4,354,369,000 after purchasing an additional 442,182 shares during the period. Capital Research Global Investors grew its holdings in TransDigm Group by 1.6% in the first quarter. Capital Research Global Investors now owns 1,965,640 shares of the aerospace company’s stock worth $2,420,882,000 after purchasing an additional 30,393 shares during the period. JPMorgan Chase & Co. grew its holdings in TransDigm Group by 13.1% in the first quarter. JPMorgan Chase & Co. now owns 1,669,460 shares of the aerospace company’s stock worth $2,056,109,000 after purchasing an additional 192,962 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of TransDigm Group by 2.6% during the second quarter. Legal & General Group Plc now owns 365,745 shares of the aerospace company’s stock valued at $467,282,000 after buying an additional 9,180 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TDG. Wells Fargo & Company cut their price target on shares of TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Northcoast Research began coverage on shares of TransDigm Group in a report on Thursday, August 1st. They set a “neutral” rating on the stock. Stifel Nicolaus increased their price target on shares of TransDigm Group from $1,300.00 to $1,325.00 and gave the company a “hold” rating in a report on Friday, June 7th. StockNews.com cut shares of TransDigm Group from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Truist Financial increased their price target on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,438.24.

Insider Activity

In other news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $1,241.60, for a total transaction of $3,724,800.00. Following the sale, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,469,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $1,241.60, for a total transaction of $3,724,800.00. Following the completion of the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,469,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Nicholas Howley sold 5,073 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were 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 of the company’s stock, valued at $26,769,080.40. The disclosure for this sale can be found here. Insiders have sold 36,545 shares of company stock worth $46,454,828 in the last three months. Company insiders own 4.96% of the company’s stock.

TransDigm Group Trading Up 1.7 %

TDG opened at $1,427.13 on Tuesday. TransDigm Group Incorporated has a 1-year low of $802.46 and a 1-year high of $1,433.03. The company has a market capitalization of $80.08 billion, a PE ratio of 56.61, a PEG ratio of 2.21 and a beta of 1.42. The firm’s 50 day simple moving average is $1,313.75 and its two-hundred day simple moving average is $1,286.70.

TransDigm Group (NYSE:TDG) last released its quarterly 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. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $6.55 earnings per share. Equities analysts forecast that TransDigm Group Incorporated will post 30.7 earnings per share for the current fiscal year.

TransDigm Group Increases Dividend

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

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.