Eagle Asset Management Inc. Decreases Holdings in Transdigm Group Incorporated (TDG)
Eagle Asset Management Inc. cut its holdings in shares of Transdigm Group Incorporated (NYSE:TDG) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,237 shares of the aerospace company’s stock after selling 28 shares during the quarter. Eagle Asset Management Inc.’s holdings in Transdigm Group were worth $1,676,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Korea Investment CORP boosted its position in Transdigm Group by 142.6% during the 2nd quarter. Korea Investment CORP now owns 495 shares of the aerospace company’s stock worth $133,000 after acquiring an additional 291 shares during the period. Neville Rodie & Shaw Inc. acquired a new stake in Transdigm Group during the 2nd quarter worth about $200,000. Plancorp LLC acquired a new stake in Transdigm Group during the 2nd quarter worth about $213,000. First Capital Advisors Group LLC. acquired a new stake in Transdigm Group during the 2nd quarter worth about $220,000. Finally, Pacer Advisors Inc. boosted its position in Transdigm Group by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 1,023 shares of the aerospace company’s stock worth $225,000 after acquiring an additional 33 shares during the period.
A number of equities research analysts have commented on the company. Royal Bank Of Canada restated a “buy” rating and set a $316.00 price objective on shares of Transdigm Group in a research report on Friday, September 1st. Zacks Investment Research lowered Transdigm Group from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Cowen and Company restated a “market perform” rating and set a $290.00 price objective (up from $219.00) on shares of Transdigm Group in a research report on Thursday, August 10th. Vertical Research restated a “buy” rating and set a $316.00 price objective (up from $280.00) on shares of Transdigm Group in a research report on Thursday, August 10th. Finally, Credit Suisse Group restated an “outperform” rating and set a $320.00 price objective (up from $301.00) on shares of Transdigm Group in a research report on Thursday, August 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Transdigm Group currently has an average rating of “Buy” and a consensus price target of $297.52.
Shares of Transdigm Group Incorporated (TDG) opened at 255.00 on Tuesday. Transdigm Group Incorporated has a 12-month low of $203.72 and a 12-month high of $295.00. The company has a 50-day moving average price of $274.36 and a 200 day moving average price of $257.34. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 28.33 and a beta of 0.54.
Transdigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $3.30 EPS for the quarter, beating the consensus estimate of $2.98 by $0.32. Transdigm Group had a negative return on equity of 40.12% and a net margin of 14.47%. The firm had revenue of $907.67 million during the quarter, compared to analysts’ expectations of $903.99 million. During the same period in the prior year, the firm posted $3.09 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts expect that Transdigm Group Incorporated will post $12.30 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, September 5th will be given a dividend of $22.00 per share. The ex-dividend date is Thursday, August 31st.
In other news, insider Jorge Valladares sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $276.00, for a total value of $27,600.00. Following the completion of the sale, the insider now directly owns 9,100 shares of the company’s stock, valued at $2,511,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raymond F. Laubenthal sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $277.56, for a total value of $1,665,360.00. Following the completion of the sale, the director now directly owns 75,701 shares of the company’s stock, valued at $21,011,569.56. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $5,024,197 over the last three months. Insiders own 10.52% of the company’s stock.
Transdigm Group Profile
TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft in service. The Company operates through three segments: Power & Control, Airframe and Non-aviation. The Power & Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.
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