StockNews.com Upgrades TransDigm Group (NYSE:TDG) to “Buy”

Posted by Defense World Staff on Jun 23rd, 2023

TransDigm Group (NYSE:TDG – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research firms also recently issued reports on TDG. Morgan Stanley raised their price objective on shares of TransDigm Group from $793.00 to $1,000.00 in a report on Monday, May 15th. Royal Bank of Canada raised their target price on shares of TransDigm Group from $800.00 to $900.00 in a research note on Wednesday, May 10th. Robert W. Baird raised their target price on shares of TransDigm Group from $767.00 to $960.00 in a research note on Wednesday, May 10th. Barclays raised their target price on shares of TransDigm Group from $840.00 to $930.00 in a research note on Sunday, May 14th. Finally, Truist Financial raised their target price on shares of TransDigm Group from $840.00 to $870.00 in a research note on Wednesday, May 10th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, TransDigm Group presently has a consensus rating of “Moderate Buy” and an average target price of $834.71.

TransDigm Group Stock Up 0.2 %

Shares of NYSE TDG opened at $850.00 on Friday. The firm’s 50-day moving average price is $790.19 and its 200-day moving average price is $728.06. The company has a market cap of $46.69 billion, a PE ratio of 50.81, a PEG ratio of 1.51 and a beta of 1.37. TransDigm Group has a 52-week low of $499.63 and a 52-week high of $858.67.

TransDigm Group (NYSE:TDG – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The aerospace company reported $5.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $1.00. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. TransDigm Group had a net margin of 17.57% and a negative return on equity of 34.11%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.29 earnings per share. As a group, equities research analysts anticipate that TransDigm Group will post 21.49 EPS for the current fiscal year.

Insider Activity

In related news, Director W Nicholas Howley sold 6,500 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $753.17, for a total value of $4,895,605.00. Following the completion of the sale, the director now directly owns 21,548 shares of the company’s stock, valued at $16,229,307.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Kevin M. Stein sold 11,833 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $798.13, for a total value of $9,444,272.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Nicholas Howley sold 6,500 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $753.17, for a total transaction of $4,895,605.00. Following the completion of the sale, the director now directly owns 21,548 shares of the company’s stock, valued at $16,229,307.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,477 shares of company stock valued at $29,498,594. 7.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TransDigm Group

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of TransDigm Group by 217.5% during the first quarter. FMR LLC now owns 1,340,675 shares of the aerospace company’s stock valued at $988,145,000 after acquiring an additional 918,393 shares in the last quarter. Lone Pine Capital LLC acquired a new position in shares of TransDigm Group during the third quarter valued at about $387,067,000. Price T Rowe Associates Inc. MD increased its holdings in shares of TransDigm Group by 128.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 818,757 shares of the aerospace company’s stock valued at $603,465,000 after acquiring an additional 459,787 shares in the last quarter. Proficio Capital Partners LLC boosted its position in TransDigm Group by 73,889.0% in the first quarter. Proficio Capital Partners LLC now owns 384,003 shares of the aerospace company’s stock valued at $384,000 after buying an additional 383,484 shares during the last quarter. Finally, Norges Bank purchased a new stake in TransDigm Group in the fourth quarter valued at approximately $180,823,000. 95.10% of the stock is currently owned by institutional investors.

About TransDigm Group

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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.