Mirae Asset Global Investments Co. Ltd. Makes New Investment in Transdigm Group Incorporated $TDG

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Transdigm Group Incorporated (NYSE:TDG) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 14,786 shares of the aerospace company’s stock, valued at approximately $16,007,000.

Other institutional investors have also recently made changes to their positions in the company. Stockbridge Partners LLC purchased a new position in Transdigm Group during the 2nd quarter valued at about $578,480,000. Veritas Asset Management LLP raised its holdings in shares of Transdigm Group by 3.0% in the 2nd quarter. Veritas Asset Management LLP now owns 137,969 shares of the aerospace company’s stock valued at $183,780,000 after purchasing an additional 3,995 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Transdigm Group by 106.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 392,447 shares of the aerospace company’s stock worth $522,754,000 after purchasing an additional 202,300 shares during the period. Mill Capital Management LLC purchased a new stake in shares of Transdigm Group in the 2nd quarter worth approximately $33,454,000. Finally, LGT Fund Management Co Ltd. bought a new position in shares of Transdigm Group during the first quarter valued at approximately $1,395,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Transdigm Group Stock Performance

TDG stock opened at $1,206.02 on Wednesday. The firm has a market cap of $67.45 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.74 and a beta of 0.98. The firm has a 50-day simple moving average of $1,129.59 and a two-hundred day simple moving average of $1,226.80. Transdigm Group Incorporated has a one year low of $1,071.25 and a one year high of $1,463.03.

Transdigm Group (NYSE:TDG) last released its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $10.87 earnings per share for the quarter, beating analysts’ consensus estimates of $10.30 by $0.57. Transdigm Group had a net margin of 19.69% and a negative return on equity of 23.65%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $9.60 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts predict that Transdigm Group Incorporated will post 38.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TDG has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Transdigm Group from $1,450.00 to $1,210.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Stifel Nicolaus lowered Transdigm Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $1,525.00 to $1,405.00 in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Transdigm Group in a research report on Friday, August 28th. The Goldman Sachs Group dropped their target price on Transdigm Group from $1,972.00 to $1,745.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. cut their price target on Transdigm Group from $1,450.00 to $1,415.00 and set a “neutral” rating on the stock in a report on Thursday, September 17th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,428.40.

Insider Activity at Transdigm Group

In other Transdigm Group news, Director W. Howley sold 10,132 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $1,236.28, for a total value of $12,525,988.96. Following the completion of the sale, the director directly owned 21,548 shares in the company, valued at $26,639,361.44. This trade represents a 31.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joel Reiss sold 4,100 shares of Transdigm Group stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $1,128.04, for a total transaction of $4,624,964.00. Following the completion of the transaction, the chief operating officer directly owned 3,600 shares in the company, valued at $4,060,944. This represents a 53.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,032 shares of company stock valued at $26,250,979. 3.20% of the stock is currently owned by company insiders.

About Transdigm Group

TransDigm Group Incorporated (NYSE: TDG) is a global aerospace manufacturing company that designs, produces and supplies aircraft components, systems and related products. Its portfolio includes mechanical and electrical systems, cockpit and cabin products, airframe components, power and control systems, engine components, and other specialized equipment used in commercial, business and general aviation, and military aircraft.

The company serves aircraft manufacturers, airlines, aircraft operators, maintenance providers and defense customers.