SunTrust Banks, Inc. Reiterates “Buy” Rating for Transdigm Group Incorporated (TDG)
Transdigm Group Incorporated (NYSE:TDG)‘s stock had its “buy” rating reissued by equities researchers at SunTrust Banks, Inc. in a research note issued to investors on Monday. They currently have a $300.00 price target on the aerospace company’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 14.36% from the company’s current price.
Other equities analysts have also issued reports about the company. Wolfe Research lowered Transdigm Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 20th. Canaccord Genuity restated a “buy” rating and set a $330.00 price target (up from $300.00) on shares of Transdigm Group in a report on Wednesday, August 9th. Deutsche Bank AG raised their price objective on shares of Transdigm Group from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Jefferies Group LLC lifted their price objective on shares of Transdigm Group from $283.00 to $322.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Stephens lowered shares of Transdigm Group from an “equal weight” rating to an “underweight” rating and set a $230.00 price objective for the company. in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $295.58.
Shares of Transdigm Group (NYSE TDG) opened at 262.33 on Monday. Transdigm Group has a one year low of $203.72 and a one year high of $295.00. The firm has a 50 day moving average price of $263.00 and a 200 day moving average price of $259.07. The company has a market capitalization of $13.62 billion, a P/E ratio of 29.15 and a beta of 0.53.
Transdigm Group (NYSE:TDG) last announced its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.32. The company had revenue of $907.67 million for 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%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.09 EPS. On average, equities research analysts predict that Transdigm Group will post $12.30 EPS for the current fiscal year.
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In related news, insider Jorge Valladares sold 100 shares of Transdigm Group stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $276.00, for a total transaction of $27,600.00. Following the transaction, the insider now owns 9,100 shares of the company’s stock, valued at $2,511,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond F. Laubenthal sold 6,000 shares of Transdigm Group stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $281.81, for a total value of $1,690,860.00. Following the transaction, the director now directly owns 75,701 shares in the company, valued at approximately $21,333,298.81. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $6,549,337 over the last three months. Corporate insiders own 10.52% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tiger Global Management LLC lifted its stake in Transdigm Group by 57.4% during the 2nd quarter. Tiger Global Management LLC now owns 4,000,000 shares of the aerospace company’s stock valued at $1,075,480,000 after acquiring an additional 1,459,272 shares in the last quarter. Valinor Management L.P. purchased a new position in Transdigm Group during the 1st quarter worth $113,220,000. Capital International Investors boosted its holdings in Transdigm Group by 51.8% during the 2nd quarter. Capital International Investors now owns 1,332,593 shares of the aerospace company’s stock worth $358,294,000 after acquiring an additional 454,568 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in Transdigm Group by 146.8% during the 1st quarter. TimesSquare Capital Management LLC now owns 661,625 shares of the aerospace company’s stock worth $145,663,000 after acquiring an additional 393,525 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Transdigm Group by 37.7% during the 1st quarter. Morgan Stanley now owns 1,408,740 shares of the aerospace company’s stock worth $310,149,000 after acquiring an additional 385,775 shares during the last quarter.
About Transdigm Group
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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