Transdigm Group Incorporated (TDG) Holdings Cut by First Trust Advisors LP
First Trust Advisors LP lowered its stake in shares of Transdigm Group Incorporated (NYSE:TDG) by 82.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,076 shares of the aerospace company’s stock after selling 9,971 shares during the period. First Trust Advisors LP’s holdings in Transdigm Group were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in shares of Transdigm Group by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 166,401 shares of the aerospace company’s stock worth $44,741,000 after purchasing an additional 10,834 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in shares of Transdigm Group by 53.9% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 45,571 shares of the aerospace company’s stock worth $12,253,000 after purchasing an additional 15,968 shares during the period. Korea Investment CORP raised its position in shares of Transdigm Group by 142.6% during the second quarter. Korea Investment CORP now owns 495 shares of the aerospace company’s stock worth $133,000 after purchasing an additional 291 shares during the period. Country Trust Bank raised its position in shares of Transdigm Group by 4.6% during the second quarter. Country Trust Bank now owns 86,239 shares of the aerospace company’s stock worth $23,187,000 after purchasing an additional 3,806 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Transdigm Group during the second quarter worth about $234,000.
Transdigm Group Incorporated (TDG) opened at 260.40 on Monday. Transdigm Group Incorporated has a 52 week low of $203.72 and a 52 week high of $295.00. The company has a market capitalization of $13.52 billion, a P/E ratio of 28.93 and a beta of 0.54. The stock’s 50 day moving average price is $269.22 and its 200 day moving average price is $257.59.
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 Zacks’ consensus estimate of $2.98 by $0.32. The company had revenue of $907.67 million during the quarter, compared to the consensus estimate of $903.99 million. Transdigm Group had a negative return on equity of 40.12% and a net margin of 14.47%. Transdigm Group’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $3.09 earnings per share. Analysts anticipate that Transdigm Group Incorporated will post $12.30 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, September 5th were given a dividend of $22.00 per share. The ex-dividend date of this dividend was Thursday, August 31st.
A number of equities research analysts have recently commented on the company. Jefferies Group LLC lowered Transdigm Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $322.00 to $280.00 in a research report on Wednesday, September 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $330.00 price target on shares of Transdigm Group in a research report on Friday, September 15th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $316.00 price target 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. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $290.00 price target (up previously from $219.00) on shares of Transdigm Group in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Transdigm Group presently has an average rating of “Buy” and an average target price of $295.05.
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In other Transdigm Group news, insider Jorge Valladares sold 5,900 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $278.03, for a total transaction of $1,640,377.00. Following the completion of the transaction, the insider now directly owns 14,900 shares of the company’s stock, valued at $4,142,647. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raymond F. Laubenthal sold 6,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $254.19, for a total value of $1,525,140.00. Following the transaction, the director now directly owns 75,701 shares of the company’s stock, valued at $19,242,437.19. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $6,549,337 over the last ninety days. 10.52% of the stock is currently owned by company insiders.
Transdigm Group Company 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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