TransDigm Group (NYSE:TDG) had its target price lifted by Bank of America from $600.00 to $670.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the aerospace company’s stock.
A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity upped their price objective on shares of TransDigm Group from $575.00 to $620.00 and gave the company a buy rating in a research note on Friday, November 15th. SunTrust Banks lifted their target price on shares of TransDigm Group from $560.00 to $590.00 and gave the stock a buy rating in a research note on Wednesday, November 20th. UBS Group upped their price target on shares of TransDigm Group to $605.00 and gave the company a buy rating in a report on Wednesday, August 7th. Berenberg Bank reissued a buy rating and set a $600.00 price target on shares of TransDigm Group in a research report on Monday, November 18th. Finally, Credit Suisse Group raised their price target on shares of TransDigm Group from $584.00 to $623.00 and gave the stock an outperform rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. TransDigm Group has an average rating of Buy and a consensus target price of $587.17.
Shares of NYSE TDG traded down $3.54 during trading hours on Wednesday, reaching $559.46. 7,023 shares of the stock traded hands, compared to its average volume of 324,901. The company’s 50-day simple moving average is $545.13 and its two-hundred day simple moving average is $510.67. The company has a market capitalization of $30.37 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.96. TransDigm Group has a 52-week low of $311.46 and a 52-week high of $581.07.
TransDigm Group (NYSE:TDG) last issued its earnings results on Tuesday, November 19th. The aerospace company reported $5.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.85 by $0.77. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.61 billion. TransDigm Group had a negative return on equity of 58.95% and a net margin of 16.06%. TransDigm Group’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.44 earnings per share. Analysts predict that TransDigm Group will post 19.85 earnings per share for the current year.
In related news, EVP Bernt G. Iversen II sold 8,333 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $564.87, for a total transaction of $4,707,061.71. Following the transaction, the executive vice president now owns 12,643 shares in the company, valued at $7,141,651.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Skulina sold 5,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $509.52, for a total transaction of $2,547,600.00. Following the completion of the transaction, the executive vice president now directly owns 9,000 shares of the company’s stock, valued at $4,585,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,948 shares of company stock valued at $58,667,331. 11.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TDG. Nuveen Asset Management LLC increased its position in TransDigm Group by 2,139.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 550,868 shares of the aerospace company’s stock valued at $266,510,000 after buying an additional 526,267 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of TransDigm Group by 294.6% in the second quarter. JPMorgan Chase & Co. now owns 551,857 shares of the aerospace company’s stock worth $262,728,000 after buying an additional 412,007 shares during the period. Egerton Capital UK LLP purchased a new position in TransDigm Group during the second quarter valued at approximately $192,825,000. BlackRock Inc. raised its position in shares of TransDigm Group by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,697,541 shares of the aerospace company’s stock valued at $1,788,870,000 after purchasing an additional 127,743 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of TransDigm Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,120,651 shares of the aerospace company’s stock valued at $2,477,370,000 after purchasing an additional 94,963 shares during the period. Institutional investors and hedge funds own 99.27% 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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