Skandinaviska Enskilda Banken AB publ Cuts Stake in TransDigm Group Incorporated (NYSE:TDG)
Skandinaviska Enskilda Banken AB publ lessened its stake in TransDigm Group Incorporated (NYSE:TDG) by 4.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,041 shares of the aerospace company’s stock after selling 300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in TransDigm Group were worth $2,254,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in shares of TransDigm Group by 121.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 104 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 57 shares during the period. Engrave Wealth Partners LLC bought a new stake in TransDigm Group in the fourth quarter worth $35,000. MUFG Securities EMEA plc purchased a new position in TransDigm Group during the fourth quarter worth $36,000. Front Row Advisors LLC bought a new position in TransDigm Group during the first quarter valued at $38,000. Finally, Marshall Wace LLP purchased a new stake in shares of TransDigm Group in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.
Several brokerages have issued reports on TDG. Barclays reaffirmed a “buy” rating on shares of TransDigm Group in a research note on Sunday, March 22nd. Canaccord Genuity reissued a “buy” rating on shares of TransDigm Group in a research note on Tuesday. Cowen reaffirmed a “buy” rating and issued a $350.00 price target on shares of TransDigm Group in a research note on Tuesday, May 5th. Vertical Research cut shares of TransDigm Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $317.00 to $309.00 in a research report on Monday, March 30th. Finally, UBS Group raised their target price on shares of TransDigm Group from $450.00 to $495.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $483.57.
TransDigm Group (NYSE:TDG) last released its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $5.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.80 by $1.30. TransDigm Group had a negative return on equity of 37.53% and a net margin of 15.22%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business posted $4.21 EPS. The company’s revenue was up 23.5% on a year-over-year basis. On average, analysts predict that TransDigm Group Incorporated will post 11.56 earnings per share for the current fiscal year.
In other TransDigm Group news, Director Michael Graff acquired 618 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $448.07 per share, for a total transaction of $276,907.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sean P. Hennessy purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $352.61 per share, for a total transaction of $705,220.00. Insiders acquired 127,823 shares of company stock valued at $44,590,021 over the last three months. 8.17% of the stock is currently owned by corporate insiders.
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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