Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in TransDigm Group Incorporated (NYSE:TDG)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of TransDigm Group Incorporated (NYSE:TDG – Get Rating) by 29.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607 shares of the aerospace company’s stock after selling 258 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in TransDigm Group were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of TransDigm Group by 29.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,932 shares of the aerospace company’s stock worth $3,113,000 after buying an additional 1,336 shares during the last quarter. Edge Capital Group LLC boosted its holdings in shares of TransDigm Group by 116.0% in the 4th quarter. Edge Capital Group LLC now owns 108 shares of the aerospace company’s stock worth $68,000 after buying an additional 58 shares during the last quarter. CWM LLC boosted its holdings in shares of TransDigm Group by 148.2% in the 3rd quarter. CWM LLC now owns 541 shares of the aerospace company’s stock worth $284,000 after buying an additional 323 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of TransDigm Group by 2.8% in the 3rd quarter. Toronto Dominion Bank now owns 23,944 shares of the aerospace company’s stock worth $12,563,000 after buying an additional 659 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in TransDigm Group by 4.7% in the 3rd quarter. Royal Bank of Canada now owns 36,133 shares of the aerospace company’s stock valued at $18,962,000 after acquiring an additional 1,635 shares during the period. 96.00% of the stock is owned by hedge funds and other institutional investors.

TransDigm Group Stock Down 0.2 %

NYSE TDG opened at $795.59 on Friday. The stock’s 50-day moving average price is $744.80 and its 200-day moving average price is $688.15. TransDigm Group Incorporated has a 52 week low of $499.63 and a 52 week high of $816.94. The company has a market capitalization of $43.44 billion, a P/E ratio of 47.55, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37.

TransDigm Group (NYSE:TDG – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The aerospace company reported $5.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $1.00. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.53 billion. TransDigm Group had a negative return on equity of 30.59% and a net margin of 16.53%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. Research analysts anticipate that TransDigm Group Incorporated will post 20.84 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on TDG shares. Susquehanna boosted their price objective on TransDigm Group from $750.00 to $820.00 in a report on Wednesday. Bank of America increased their price objective on TransDigm Group from $770.00 to $890.00 in a research note on Tuesday, February 28th. Cowen upped their target price on TransDigm Group from $695.00 to $830.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Robert W. Baird upped their target price on TransDigm Group from $767.00 to $960.00 in a report on Wednesday. Finally, Royal Bank of Canada upped their target price on TransDigm Group from $800.00 to $900.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, TransDigm Group presently has a consensus rating of “Moderate Buy” and an average target price of $804.54.

Insider Activity at TransDigm Group

In other TransDigm Group news, Director W Nicholas Howley sold 6,500 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $754.78, for a total value of $4,906,070.00. Following the transaction, the director now owns 21,548 shares of the company’s stock, valued at approximately $16,263,999.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director W Nicholas Howley sold 6,500 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $754.78, for a total transaction of $4,906,070.00. Following the transaction, the director now owns 21,548 shares of the company’s stock, valued at approximately $16,263,999.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sarah Wynne sold 180 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $720.41, for a total value of $129,673.80. Following the sale, the chief accounting officer now owns 700 shares of the company’s stock, valued at $504,287. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,237 shares of company stock worth $142,824,885. Company insiders own 7.18% of the company’s stock.

TransDigm Group Profile

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TransDigm Group, Inc engages in the production of engineered aerospace components, systems and subsystems. It operates through the following segments: Power and Control, Airframe, and Non-Aviation. The Power and Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.

Further Reading

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Institutional Ownership by Quarter for TransDigm Group (NYSE:TDG)

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