TransDigm Group (NYSE:TDG) Hits New 1-Year High After Better-Than-Expected Earnings

TransDigm Group Incorporated (NYSE:TDG) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $1,325.36 and last traded at $1,314.00, with a volume of 41776 shares traded. The stock had previously closed at $1,310.40.

The aerospace company reported $7.99 earnings per share for the quarter, beating analysts’ consensus estimates of $7.42 by $0.57. TransDigm Group had a net margin of 20.80% and a negative return on equity of 59.61%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $5.39 earnings per share. The firm’s quarterly revenue was up 20.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of TransDigm Group from $1,050.00 to $1,175.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. UBS Group upped their price objective on shares of TransDigm Group from $1,302.00 to $1,403.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of TransDigm Group from $1,260.00 to $1,390.00 and gave the company an “equal weight” rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of TransDigm Group from $1,100.00 to $1,200.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Finally, Barclays upped their target price on shares of TransDigm Group from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,289.94.

Insider Buying and Selling

In other news, Director W Nicholas Howley sold 2,391 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $1,160.55, for a total transaction of $2,774,875.05. Following the sale, the director now owns 21,549 shares in the company, valued at approximately $25,008,691.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other TransDigm Group news, Director Michael Graff sold 3,460 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,108.17, for a total value of $3,834,268.20. Following the sale, the director now owns 4,879 shares of the company’s stock, valued at approximately $5,406,761.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director W Nicholas Howley sold 2,391 shares of TransDigm Group stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $1,160.55, for a total transaction of $2,774,875.05. Following the sale, the director now directly owns 21,549 shares in the company, valued at approximately $25,008,691.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,087 shares of company stock valued at $69,840,358. Company insiders own 4.96% of the company’s stock.

Institutional Investors Weigh In On TransDigm Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in TransDigm Group by 9.8% during the third quarter. Commonwealth Equity Services LLC now owns 1,133 shares of the aerospace company’s stock valued at $956,000 after purchasing an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of TransDigm Group by 66.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,744 shares of the aerospace company’s stock worth $1,471,000 after acquiring an additional 698 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of TransDigm Group by 3.6% in the 3rd quarter. Mackenzie Financial Corp now owns 4,127 shares of the aerospace company’s stock worth $3,352,000 after acquiring an additional 145 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in TransDigm Group by 8.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 5,567 shares of the aerospace company’s stock valued at $4,694,000 after buying an additional 429 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in TransDigm Group by 76.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,477 shares of the aerospace company’s stock valued at $1,221,000 after buying an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

TransDigm Group Trading Up 0.4 %

The firm has a market cap of $73.13 billion, a PE ratio of 55.81, a P/E/G ratio of 2.63 and a beta of 1.40. The business’s 50-day simple moving average is $1,217.21 and its 200 day simple moving average is $1,083.86.

About TransDigm Group

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The 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.