TransDigm Group (NYSE:TDG) Reaches New 52-Week High Following Dividend Announcement

Shares of TransDigm Group Incorporated (NYSE:TDG) hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $1,423.02 and last traded at $1,411.34, with a volume of 5518 shares. The stock had previously closed at $1,408.03.

The newly announced dividend which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be paid a dividend of $75.00 per share. This is a positive change from TransDigm Group’s previous dividend of $32.50. The ex-dividend date of this dividend is Friday, October 4th.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on TransDigm Group from $1,550.00 to $1,575.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Northcoast Research assumed coverage on TransDigm Group in a research note on Thursday, August 1st. They issued a “neutral” rating on the stock. Jefferies Financial Group cut their price objective on TransDigm Group from $1,625.00 to $1,515.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their price target on 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. Finally, Truist Financial boosted their price target on 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. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,438.24.

TransDigm Group Trading Up 0.0 %

The business has a 50-day moving average price of $1,294.01 and a 200 day moving average price of $1,276.52. The stock has a market cap of $78.82 billion, a PE ratio of 55.85, a PEG ratio of 2.16 and a beta of 1.42.

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

Insider Activity

In related news, CEO Kevin M. Stein sold 10,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,248.60, for a total transaction of $12,486,000.00. Following the sale, the chief executive officer now owns 8,158 shares of the company’s stock, valued at approximately $10,186,078.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TransDigm Group news, Director W Nicholas Howley sold 5,472 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1,376.42, for a total value of $7,531,770.24. Following the transaction, the director now directly owns 21,548 shares in the company, valued at approximately $29,659,098.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $1,248.60, for a total value of $12,486,000.00. Following the completion of the transaction, the chief executive officer now owns 8,158 shares in the company, valued at $10,186,078.80. The disclosure for this sale can be found here. Insiders have sold 36,545 shares of company stock valued at $46,454,828 in the last 90 days. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On TransDigm Group

Institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its position in TransDigm Group by 0.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 966 shares of the aerospace company’s stock worth $1,190,000 after acquiring an additional 8 shares during the last quarter. Team Hewins LLC grew its position in TransDigm Group by 3.0% during the 1st quarter. Team Hewins LLC now owns 275 shares of the aerospace company’s stock worth $339,000 after acquiring an additional 8 shares during the last quarter. Souders Financial Advisors grew its position in TransDigm Group by 1.1% during the 1st quarter. Souders Financial Advisors now owns 767 shares of the aerospace company’s stock worth $945,000 after acquiring an additional 8 shares during the last quarter. Bennett Selby Investments LP grew its position in TransDigm Group by 2.4% during the 2nd quarter. Bennett Selby Investments LP now owns 336 shares of the aerospace company’s stock worth $429,000 after acquiring an additional 8 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in TransDigm Group by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 918 shares of the aerospace company’s stock worth $1,131,000 after acquiring an additional 9 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

TransDigm Group Company 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.