New York State Common Retirement Fund trimmed its stake in shares of TransDigm Group Incorporated (NYSE:TDG) by 16.0% in the first quarter, Holdings Channel reports. The fund owned 60,550 shares of the aerospace company’s stock after selling 11,534 shares during the period. New York State Common Retirement Fund’s holdings in TransDigm Group were worth $35,599,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in TransDigm Group by 9.9% during the 1st quarter. BlackRock Inc. now owns 4,038,725 shares of the aerospace company’s stock worth $2,374,446,000 after acquiring an additional 363,926 shares during the period. Meritage Group LP raised its stake in shares of TransDigm Group by 31.2% during the 4th quarter. Meritage Group LP now owns 661,935 shares of the aerospace company’s stock worth $409,638,000 after buying an additional 157,374 shares in the last quarter. Norges Bank purchased a new position in shares of TransDigm Group during the 4th quarter worth approximately $280,511,000. Janus Henderson Group PLC raised its stake in shares of TransDigm Group by 22.8% during the 4th quarter. Janus Henderson Group PLC now owns 300,927 shares of the aerospace company’s stock worth $186,229,000 after buying an additional 55,773 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of TransDigm Group by 7.9% during the 4th quarter. Nuveen Asset Management LLC now owns 271,850 shares of the aerospace company’s stock worth $168,235,000 after buying an additional 19,921 shares in the last quarter. 95.33% of the stock is owned by institutional investors.
In other news, CEO Kevin M. Stein sold 9,900 shares of the company’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $609.49, for a total value of $6,033,951.00. Following the transaction, the chief executive officer now directly owns 11,247 shares of the company’s stock, valued at $6,854,934.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman W Nicholas Howley sold 11,500 shares of the company’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $619.79, for a total transaction of $7,127,585.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,900 shares of company stock worth $53,542,531. Company insiders own 9.13% of the company’s stock.
TransDigm Group (NYSE:TDG) last announced its earnings results on Tuesday, May 11th. The aerospace company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.38. TransDigm Group had a net margin of 5.11% and a negative return on equity of 13.26%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $5.10 EPS. The company’s revenue was down 17.3% on a year-over-year basis. As a group, equities analysts anticipate that TransDigm Group Incorporated will post 9.84 earnings per share for the current fiscal year.
TDG has been the subject of several research analyst reports. Wells Fargo & Company initiated coverage on TransDigm Group in a research note on Tuesday, May 18th. They issued an “overweight” rating and a $718.00 price objective for the company. Credit Suisse Group dropped their price objective on TransDigm Group from $663.00 to $660.00 and set an “outperform” rating for the company in a research note on Wednesday, May 12th. Morgan Stanley dropped their price target on TransDigm Group from $780.00 to $762.00 and set an “overweight” rating for the company in a research report on Wednesday, May 12th. Vertical Research raised TransDigm Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $604.00 to $667.00 in a research report on Wednesday, May 12th. Finally, Canaccord Genuity raised their price objective on TransDigm Group from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Wednesday, May 12th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $661.20.
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.
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