BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in TransDigm Group Incorporated (NYSE:TDG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of TransDigm Group Incorporated (NYSE:TDG) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,337 shares of the aerospace company’s stock after selling 1,314 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in TransDigm Group were worth $13,325,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its stake in TransDigm Group by 2.3% during the third quarter. FMR LLC now owns 1,920,181 shares of the aerospace company’s stock valued at $2,740,348,000 after acquiring an additional 43,604 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of TransDigm Group by 2.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 372,061 shares of the aerospace company’s stock worth $530,980,000 after buying an additional 8,655 shares in the last quarter. Legal & General Group Plc grew its stake in shares of 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 buying an additional 9,180 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of TransDigm Group by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 338,106 shares of the aerospace company’s stock worth $482,521,000 after buying an additional 4,481 shares in the last quarter. Finally, Bank of New York Mellon Corp grew 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 worth $409,821,000 after buying an additional 1,035 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

TransDigm Group Stock Performance

NYSE:TDG opened at $1,252.97 on Friday. TransDigm Group Incorporated has a one year low of $949.99 and a one year high of $1,451.32. The firm has a market cap of $70.45 billion, a P/E ratio of 48.94, a P/E/G ratio of 2.82 and a beta of 1.43. The firm has a 50-day simple moving average of $1,346.89 and a 200-day simple moving average of $1,316.68.

TransDigm Group Increases Dividend

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

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com raised shares of TransDigm Group from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Morgan Stanley raised their target price on shares of TransDigm Group from $1,550.00 to $1,575.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group lowered their target price 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TransDigm Group from $1,435.00 to $1,555.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, TransDigm Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,461.82.

TransDigm Group 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.