Clearbridge Investments LLC Has $6.05 Million Stake in TransDigm Group Incorporated (NYSE:TDG)

Clearbridge Investments LLC lifted its position in shares of TransDigm Group Incorporated (NYSE:TDG) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,738 shares of the aerospace company’s stock after purchasing an additional 111 shares during the quarter. Clearbridge Investments LLC’s holdings in TransDigm Group were worth $6,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDG. Fortitude Family Office LLC lifted its holdings in shares of TransDigm Group by 283.3% in the second quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 17 shares in the last quarter. ORG Partners LLC acquired a new position in shares of TransDigm Group during the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. increased its holdings in shares of TransDigm Group by 275.0% in the second quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 22 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in TransDigm Group in the 1st quarter valued at about $39,000. Finally, Hershey Financial Advisers LLC bought a new position in shares of TransDigm Group during the second quarter worth approximately $41,000. 95.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of TransDigm Group from $1,625.00 to $1,515.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,500.00 target price on shares of TransDigm Group in a research report on Wednesday, August 7th. UBS Group lowered their price target on shares of TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Northcoast Research began coverage on TransDigm Group in a research note on Thursday, August 1st. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company lowered their target price on TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. Eight research 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, TransDigm Group has an average rating of “Moderate Buy” and a consensus price target of $1,441.35.

TransDigm Group Stock Up 0.8 %

TDG opened at $1,355.46 on Friday. The stock has a market cap of $76.05 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 1.87 and a beta of 1.43. The company’s 50-day moving average price is $1,326.86 and its two-hundred day moving average price is $1,292.36. TransDigm Group Incorporated has a twelve month low of $811.42 and a twelve month high of $1,451.32.

TransDigm Group (NYSE:TDG) last announced its quarterly earnings results on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the business earned $6.55 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that TransDigm Group Incorporated will post 30.7 earnings per share for the current year.

TransDigm Group Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given 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.

Insiders Place Their Bets

In other news, CEO Kevin M. Stein sold 10,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the transaction, the chief executive officer now owns 8,158 shares of the company’s stock, valued at $10,019,981.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the completion of the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,019,981.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director W Nicholas Howley sold 5,073 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $1,242.30, for a total transaction of $6,302,187.90. Following the sale, the director now owns 21,548 shares of the company’s stock, valued at approximately $26,769,080.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,545 shares of company stock worth $46,454,828 in the last ninety days. 4.96% of the stock is currently owned by insiders.

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.