TransDigm Group Incorporated (NYSE:TDG) Stake Raised by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its holdings in TransDigm Group Incorporated (NYSE:TDG) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,800 shares of the aerospace company’s stock after purchasing an additional 100 shares during the quarter. Cornerstone Advisors LLC’s holdings in TransDigm Group were worth $5,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Legal & General Group Plc increased its position in TransDigm Group by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 365,745 shares of the aerospace company’s stock worth $467,282,000 after purchasing an additional 9,180 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TransDigm Group by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 320,771 shares of the aerospace company’s stock valued at $409,821,000 after purchasing an additional 1,035 shares during the last quarter. Swiss National Bank increased its position in TransDigm Group by 0.9% during the third quarter. Swiss National Bank now owns 166,100 shares of the aerospace company’s stock worth $237,046,000 after buying an additional 1,400 shares during the last quarter. Darsana Capital Partners LP bought a new position in TransDigm Group during the second quarter valued at about $210,806,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of TransDigm Group by 13.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 145,411 shares of the aerospace company’s stock worth $185,779,000 after acquiring an additional 17,182 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TransDigm Group

In related news, COO Joel Reiss sold 3,000 shares of TransDigm Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,375.89, for a total value of $4,127,670.00. Following the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,953,204. The trade was a 45.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Nicholas Howley sold 5,472 shares of TransDigm Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1,376.42, for a total transaction of $7,531,770.24. Following the completion of the sale, the director now owns 21,548 shares of the company’s stock, valued at $29,659,098.16. This represents a 20.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock worth $23,541,085 over the last three months. Corporate insiders own 4.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TDG shares. Northcoast Research assumed coverage on shares of TransDigm Group in a report on Thursday, August 1st. They issued a “neutral” rating for the company. UBS Group lowered their price target on shares of TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on TransDigm Group from $1,524.00 to $1,577.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp lifted their price objective on TransDigm Group from $1,440.00 to $1,500.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their price objective on TransDigm Group from $1,550.00 to $1,575.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,461.82.

TransDigm Group Stock Performance

TDG opened at $1,293.11 on Thursday. TransDigm Group Incorporated has a 52-week low of $949.99 and a 52-week high of $1,451.32. The business’s fifty day moving average is $1,364.06 and its 200-day moving average is $1,319.02. The firm has a market cap of $72.71 billion, a P/E ratio of 50.51, a price-to-earnings-growth ratio of 2.21 and a beta of 1.43.

TransDigm Group Increases Dividend

The company also recently declared a special dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a dividend of $75.00 per share. The ex-dividend date was Friday, October 4th. This is an increase from TransDigm Group’s previous special dividend of $32.50.

TransDigm Group Company Profile

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