Bank of America Increases TransDigm Group (TDG) Price Target to $350.00

TransDigm Group (NYSE:TDG) had its price target increased by analysts at Bank of America from $305.00 to $350.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the aerospace company’s stock. Bank of America’s target price suggests a potential upside of 22.51% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Robert W. Baird increased their target price on TransDigm Group from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stephens upgraded TransDigm Group from an “underweight” rating to an “equal” rating in a research report on Thursday. Jefferies Group set a $323.00 target price on TransDigm Group and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded TransDigm Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Royal Bank of Canada set a $370.00 target price on TransDigm Group and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $306.44.

Shares of TransDigm Group (TDG) traded down $6.41 during trading hours on Thursday, hitting $285.69. The stock had a trading volume of 393,692 shares, compared to its average volume of 463,626. The company has a debt-to-equity ratio of -3.86, a current ratio of 2.45 and a quick ratio of 1.61. TransDigm Group has a twelve month low of $203.72 and a twelve month high of $321.38. The stock has a market capitalization of $15,102.61, a P/E ratio of 23.49, a P/E/G ratio of 2.45 and a beta of 0.66.

TransDigm Group (NYSE:TDG) last released its earnings results on Tuesday, February 6th. The aerospace company reported $2.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.64 by ($0.21). TransDigm Group had a negative return on equity of 28.62% and a net margin of 18.95%. The business had revenue of $847.96 million for the quarter, compared to analysts’ expectations of $860.12 million. During the same quarter last year, the company posted $2.57 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts forecast that TransDigm Group will post 12.72 EPS for the current year.

In other news, EVP James Skulina purchased 2,422 shares of the company’s stock in a transaction on Friday, May 11th. The stock was bought at an average cost of $245.52 per share, for a total transaction of $594,649.44. Following the completion of the purchase, the executive vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $982,080. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond F. Laubenthal sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $263.94, for a total value of $1,583,640.00. Following the sale, the director now owns 75,818 shares of the company’s stock, valued at $20,011,402.92. The disclosure for this sale can be found here. Insiders have sold 94,548 shares of company stock valued at $25,894,245 over the last 90 days. 10.52% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of TDG. Fourth Swedish National Pension Fund grew its stake in shares of TransDigm Group by 4.2% in the fourth quarter. Fourth Swedish National Pension Fund now owns 15,350 shares of the aerospace company’s stock valued at $3,507,000 after buying an additional 625 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of TransDigm Group by 51.5% in the fourth quarter. Nordea Investment Management AB now owns 71,188 shares of the aerospace company’s stock valued at $16,263,000 after buying an additional 24,205 shares in the last quarter. Mizuho Asset Management Co. Ltd. grew its stake in shares of TransDigm Group by 5.4% in the fourth quarter. Mizuho Asset Management Co. Ltd. now owns 6,866 shares of the aerospace company’s stock valued at $1,569,000 after buying an additional 353 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of TransDigm Group by 9.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 1,944 shares of the aerospace company’s stock valued at $444,000 after buying an additional 175 shares in the last quarter. Finally, British Columbia Investment Management Corp grew its stake in shares of TransDigm Group by 401.1% in the fourth quarter. British Columbia Investment Management Corp now owns 29,051 shares of the aerospace company’s stock valued at $6,637,000 after buying an additional 23,253 shares in the last quarter.

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About TransDigm Group

TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft in service. The Company operates through three segments: Power & Control, Airframe and Non-aviation. The 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.

Analyst Recommendations for TransDigm Group (NYSE:TDG)

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