Hsbc Holdings PLC Sells 16,861 Shares of TransDigm Group Incorporated (NYSE:TDG)

Hsbc Holdings PLC reduced its position in TransDigm Group Incorporated (NYSE:TDG) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,893 shares of the aerospace company’s stock after selling 16,861 shares during the quarter. Hsbc Holdings PLC owned approximately 0.16% of TransDigm Group worth $111,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zega Financial LLC lifted its position in TransDigm Group by 8.1% in the second quarter. Zega Financial LLC now owns 656 shares of the aerospace company’s stock worth $838,000 after purchasing an additional 49 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in TransDigm Group by 9.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,224 shares of the aerospace company’s stock worth $5,315,000 after purchasing an additional 371 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in TransDigm Group by 12.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 870 shares of the aerospace company’s stock worth $1,112,000 after purchasing an additional 93 shares during the period. Argent Trust Co lifted its holdings in shares of TransDigm Group by 38.2% during the second quarter. Argent Trust Co now owns 333 shares of the aerospace company’s stock valued at $425,000 after acquiring an additional 92 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of TransDigm Group by 171.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,174 shares of the aerospace company’s stock valued at $8,424,000 after acquiring an additional 3,900 shares during the period. 95.78% of the stock is owned by institutional investors.

TransDigm Group Trading Down 0.1 %

Shares of NYSE:TDG opened at $1,373.70 on Thursday. The stock has a market capitalization of $77.08 billion, a P/E ratio of 54.49, a P/E/G ratio of 2.16 and a beta of 1.42. TransDigm Group Incorporated has a 1-year low of $802.46 and a 1-year high of $1,396.13. The business has a 50-day moving average price of $1,288.02 and a two-hundred day moving average price of $1,272.53.

TransDigm Group (NYSE:TDG) last announced its quarterly earnings data on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, topping the consensus estimate of $7.77 by $1.23. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.55 EPS. As a group, equities analysts predict that TransDigm Group Incorporated will post 30.69 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TDG. Deutsche Bank Aktiengesellschaft boosted their target price on shares of TransDigm Group from $1,435.00 to $1,524.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. boosted their target price on shares of TransDigm Group from $1,350.00 to $1,435.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial boosted their target price on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Stifel Nicolaus boosted their target price on shares of TransDigm Group from $1,300.00 to $1,325.00 and gave the company a “hold” rating in a research note on Friday, June 7th. Finally, UBS Group reduced their target price on shares of TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, TransDigm Group has a consensus rating of “Moderate Buy” and an average price target of $1,438.24.

Insiders Place Their Bets

In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $1,241.60, for a total transaction of $3,724,800.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at approximately $4,469,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $1,241.60, for a total value of $3,724,800.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at approximately $4,469,760. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin M. Stein sold 10,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,248.60, for a total value of $12,486,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at $10,186,078.80. The disclosure for this sale can be found here. In the last three months, insiders sold 36,545 shares of company stock valued at $46,454,828. 4.96% of the stock is currently owned by insiders.

TransDigm Group Profile

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.