Covenant Asset Management LLC Acquires New Shares in TransDigm Group Incorporated (NYSE:TDG)

Covenant Asset Management LLC purchased a new stake in TransDigm Group Incorporated (NYSE:TDG) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,274 shares of the aerospace company’s stock, valued at approximately $3,822,000. TransDigm Group accounts for 1.0% of Covenant Asset Management LLC’s holdings, making the stock its 29th biggest holding.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in TransDigm Group in the 1st quarter valued at $27,000. Cullen Frost Bankers Inc. bought a new position in TransDigm Group in the 1st quarter valued at $28,000. Resurgent Financial Advisors LLC bought a new position in TransDigm Group in the 4th quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in TransDigm Group in the 3rd quarter valued at $27,000. Finally, Smithfield Trust Co boosted its holdings in TransDigm Group by 75.0% in the 1st quarter. Smithfield Trust Co now owns 56 shares of the aerospace company’s stock valued at $42,000 after purchasing an additional 24 shares during the period. 95.78% of the stock is owned by institutional investors.

Insider Activity at TransDigm Group

In related news, CEO Kevin M. Stein sold 11,833 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $884.27, for a total transaction of $10,463,566.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $889.75, for a total transaction of $2,669,250.00. Following the sale, the chief operating officer now owns 3,600 shares of the company’s stock, valued at $3,203,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin M. Stein sold 11,833 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $884.27, for a total transaction of $10,463,566.91. The disclosure for this sale can be found here. Insiders have sold 73,961 shares of company stock worth $65,346,077 over the last 90 days. 7.18% of the stock is owned by company insiders.

TransDigm Group Trading Down 0.5 %

Shares of TDG stock traded down $4.55 during mid-day trading on Tuesday, reaching $865.54. The stock had a trading volume of 12,365 shares, compared to its average volume of 278,921. The stock’s 50-day moving average price is $882.27 and its two-hundred day moving average price is $816.20. TransDigm Group Incorporated has a 52-week low of $499.63 and a 52-week high of $940.00. The firm has a market capitalization of $47.76 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.39.

TransDigm Group (NYSE:TDG) last released its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.87 by $1.38. TransDigm Group had a net margin of 18.41% and a negative return on equity of 39.57%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $4.36 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities research analysts forecast that TransDigm Group Incorporated will post 23.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

TDG has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of TransDigm Group from $960.00 to $1,013.00 in a report on Wednesday, August 9th. Royal Bank of Canada lifted their price objective on shares of TransDigm Group from $920.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Wells Fargo & Company lifted their price objective on shares of TransDigm Group from $840.00 to $910.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 15th. Susquehanna lifted their price objective on shares of TransDigm Group from $820.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Finally, Barclays lifted their price objective on shares of TransDigm Group from $930.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $920.54.

TransDigm Group Profile

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. Its 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, batteries and chargers, databus and power controls, sensor products, switches and relay panels, hoists, winches and lifting devices, and cargo loading and handling systems.