Jefferies Group Initiates Coverage on TransDigm Group Inc. (TDG)
Investment analysts at Jefferies Group started coverage on shares of TransDigm Group Inc. (NYSE:TDG) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the stock.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of TransDigm Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Deutsche Bank AG boosted their price target on shares of TransDigm Group from $260.00 to $300.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. KeyCorp raised shares of TransDigm Group from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th. Morgan Stanley initiated coverage on shares of TransDigm Group in a research note on Thursday, June 23rd. They set an “equal weight” rating and a $287.00 price target for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $271.00 price target on shares of TransDigm Group in a research note on Saturday, June 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $276.56.
Shares of TransDigm Group (NYSE:TDG) opened at 282.69 on Thursday. The firm’s 50 day moving average is $284.58 and its 200-day moving average is $255.75. TransDigm Group has a 52 week low of $180.76 and a 52 week high of $294.38. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 29.90 and a beta of 0.82.
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TransDigm Group (NYSE:TDG) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $3.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.82 by $0.27. The business earned $797.70 million during the quarter, compared to the consensus estimate of $805.23 million. TransDigm Group had a net margin of 17.25% and a negative return on equity of 62.15%. TransDigm Group’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. Equities research analysts predict that TransDigm Group will post $11.39 EPS for the current year.
In other TransDigm Group news, EVP Bernt G. Iversen II sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $262.55, for a total value of $2,625,500.00. Following the completion of the sale, the executive vice president now owns 15,010 shares of the company’s stock, valued at $3,940,875.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Palmer sold 20,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $281.84, for a total transaction of $5,777,720.00. Following the completion of the sale, the insider now directly owns 14,000 shares of the company’s stock, valued at approximately $3,945,760. The disclosure for this sale can be found here. 9.30% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of TransDigm Group by 99.8% in the second quarter. State Street Corp now owns 2,040,202 shares of the company’s stock valued at $537,981,000 after buying an additional 1,019,026 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TransDigm Group by 23.9% in the second quarter. Vanguard Group Inc. now owns 4,519,006 shares of the company’s stock valued at $1,191,617,000 after buying an additional 873,098 shares in the last quarter. FMR LLC increased its stake in shares of TransDigm Group by 37.4% in the second quarter. FMR LLC now owns 2,076,176 shares of the company’s stock valued at $547,466,000 after buying an additional 564,864 shares in the last quarter. Norges Bank bought a new stake in shares of TransDigm Group during the fourth quarter valued at about $89,286,000. Finally, Jana Partners LLC bought a new stake in shares of TransDigm Group during the first quarter valued at about $80,610,000. 87.73% of the stock is owned by hedge funds and other institutional investors.
TransDigm Group Company Profile
TransDigm Group Incorporated (TransDigm) is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft. The Company operates through three segments: Power & Control, Airframe and Non-aviation. Its Power & 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.
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