Victory Capital Management Inc. Boosts Stock Holdings in TransDigm Group Incorporated (NYSE:TDG)

Posted by Defense World Staff on May 23rd, 2023

Victory Capital Management Inc. raised its holdings in shares of TransDigm Group Incorporated (NYSE:TDG – Get Rating) by 21.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,326 shares of the aerospace company’s stock after buying an additional 4,512 shares during the period. Victory Capital Management Inc.’s holdings in TransDigm Group were worth $18,178,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TDG. Private Advisor Group LLC boosted its position in TransDigm Group by 23.4% during the first quarter. Private Advisor Group LLC now owns 964 shares of the aerospace company’s stock valued at $628,000 after buying an additional 183 shares during the period. Acadian Asset Management LLC boosted its position in TransDigm Group by 66.7% during the first quarter. Acadian Asset Management LLC now owns 800 shares of the aerospace company’s stock valued at $519,000 after buying an additional 320 shares during the period. Panagora Asset Management Inc. boosted its position in TransDigm Group by 99.1% during the first quarter. Panagora Asset Management Inc. now owns 2,337 shares of the aerospace company’s stock valued at $1,523,000 after buying an additional 1,163 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of TransDigm Group by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 159,263 shares of the aerospace company’s stock worth $103,790,000 after purchasing an additional 1,132 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of TransDigm Group by 7.3% during the first quarter. Sei Investments Co. now owns 29,629 shares of the aerospace company’s stock worth $19,373,000 after purchasing an additional 2,020 shares during the period. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America increased their target price on shares of TransDigm Group from $890.00 to $980.00 in a report on Tuesday, May 16th. Cowen increased their target price on shares of TransDigm Group from $695.00 to $830.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Wells Fargo & Company increased their target price on shares of TransDigm Group from $725.00 to $840.00 in a report on Thursday, May 11th. Credit Suisse Group increased their target price on shares of TransDigm Group from $830.00 to $841.00 and gave the stock an “outperform” rating in a report on Wednesday, March 22nd. Finally, Royal Bank of Canada increased their target price on shares of TransDigm Group from $800.00 to $900.00 in a report on Wednesday, May 10th. 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 MarketBeat, TransDigm Group presently has an average rating of “Moderate Buy” and a consensus target price of $834.71.

TransDigm Group Stock Performance

Shares of NYSE TDG opened at $807.90 on Tuesday. TransDigm Group Incorporated has a fifty-two week low of $499.63 and a fifty-two week high of $831.58. The company has a 50 day simple moving average of $753.45 and a two-hundred day simple moving average of $699.47. The company has a market capitalization of $44.38 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 1.52 and a beta of 1.37.

TransDigm Group (NYSE:TDG – Get Rating) last announced its earnings results on Tuesday, May 9th. The aerospace company reported $5.98 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $1.00. TransDigm Group had a net margin of 17.57% and a negative return on equity of 34.11%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm earned $3.29 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts forecast that TransDigm Group Incorporated will post 21.57 earnings per share for the current fiscal year.

Insider Buying and Selling at TransDigm Group

In other TransDigm Group news, Director W Nicholas Howley sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $701.38, for a total transaction of $4,558,970.00. Following the completion of the transaction, the director now owns 21,548 shares of the company’s stock, valued at $15,113,336.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert J. Small sold 4,439 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $739.22, for a total transaction of $3,281,397.58. Following the completion of the sale, the director now owns 57,599 shares of the company’s stock, valued at $42,578,332.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Nicholas Howley sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $701.38, for a total transaction of $4,558,970.00. Following the sale, the director now directly owns 21,548 shares of the company’s stock, valued at approximately $15,113,336.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,513 shares of company stock valued at $22,944,820. Corporate 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.