Morgan Stanley Increases TransDigm Group (NYSE:TDG) Price Target to $570.00

TransDigm Group (NYSE:TDG) had its target price boosted by Morgan Stanley from $520.00 to $570.00 in a report issued on Wednesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the aerospace company’s stock.

Several other research firms also recently commented on TDG. Berenberg Bank set a $540.00 price objective on TransDigm Group and gave the stock a buy rating in a report on Thursday, June 13th. SunTrust Banks lifted their price objective on TransDigm Group to $560.00 and gave the stock a buy rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on TransDigm Group from $465.00 to $515.00 and gave the stock an underweight rating in a report on Tuesday, May 14th. Credit Suisse Group lifted their price objective on TransDigm Group from $539.00 to $617.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded TransDigm Group from a hold rating to a buy rating and set a $513.00 price objective for the company in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. TransDigm Group has a consensus rating of Buy and a consensus price target of $540.42.

Shares of TDG traded down $28.20 during trading hours on Wednesday, hitting $510.85. The company had a trading volume of 4,381 shares, compared to its average volume of 303,788. The company’s fifty day moving average is $497.87. The stock has a market capitalization of $28.90 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. TransDigm Group has a 52-week low of $307.36 and a 52-week high of $555.27.

TransDigm Group (NYSE:TDG) last posted its quarterly earnings results on Tuesday, August 6th. The aerospace company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.94. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.58 billion. TransDigm Group had a negative return on equity of 59.21% and a net margin of 15.26%. TransDigm Group’s quarterly revenue was up 69.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.59 EPS. Research analysts predict that TransDigm Group will post 16.92 EPS for the current fiscal year.

The firm also recently disclosed a dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 16th will be issued a $30.00 dividend. The ex-dividend date of this dividend is Thursday, August 15th.

In other TransDigm Group news, VP Robert S. Henderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $467.38, for a total transaction of $4,673,800.00. Following the completion of the sale, the vice president now directly owns 35,000 shares in the company, valued at approximately $16,358,300. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman W Nicholas Howley sold 17,083 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $475.09, for a total value of $8,115,962.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,249 shares of company stock valued at $30,352,966. Corporate insiders own 11.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Lenox Wealth Management Inc. bought a new stake in shares of TransDigm Group during the 1st quarter valued at about $25,000. Bremer Bank National Association bought a new stake in shares of TransDigm Group during the 1st quarter valued at about $32,000. Princeton Global Asset Management LLC bought a new stake in shares of TransDigm Group during the 1st quarter valued at about $34,000. Commonwealth Bank of Australia grew its stake in shares of TransDigm Group by 65.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 73 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 29 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in shares of TransDigm Group by 147.4% during the 2nd quarter. Cornerstone Advisors Inc. now owns 94 shares of the aerospace company’s stock valued at $45,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 98.92% of the company’s stock.

TransDigm Group Company Profile

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The company operates in three segments: Power & Control, Airframe, and Non-aviation. 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, databus and power controls, hoists, winches and lifting devices, and cargo loading and handling systems.

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Analyst Recommendations for TransDigm Group (NYSE:TDG)

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