Wells Fargo & Company Cuts TransDigm Group (NYSE:TDG) Price Target to $1,375.00

TransDigm Group (NYSE:TDG) had its target price cut by Wells Fargo & Company from $1,500.00 to $1,375.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

TDG has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of TransDigm Group from $1,435.00 to $1,555.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup boosted their target price on shares of TransDigm Group from $1,563.00 to $1,600.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group decreased 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 report on Tuesday, August 13th. Finally, StockNews.com downgraded shares of TransDigm Group from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TransDigm Group currently has an average rating of “Moderate Buy” and an average price target of $1,465.47.

TransDigm Group Price Performance

NYSE TDG opened at $1,259.12 on Wednesday. The company has a market capitalization of $70.80 billion, a PE ratio of 49.18, a P/E/G ratio of 2.86 and a beta of 1.39. The company has a fifty day moving average of $1,319.18 and a 200 day moving average of $1,313.64. TransDigm Group has a 1 year low of $972.08 and a 1 year high of $1,451.32.

TransDigm Group Increases Dividend

The company also recently declared a special dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were paid a $75.00 dividend. This is a boost from TransDigm Group’s previous special dividend of $32.50. The ex-dividend date was Friday, October 4th.

Insider Activity

In other news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1,401.75, for a total value of $4,205,250.00. Following the transaction, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $5,046,300. This represents a 45.45 % 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 5,472 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,376.42, for a total transaction of $7,531,770.24. Following the completion of the transaction, the director now owns 21,548 shares in the company, valued at approximately $29,659,098.16. This represents a 20.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock valued at $23,541,085 in the last 90 days. Company insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On TransDigm Group

Several large investors have recently made changes to their positions in TDG. First Personal Financial Services acquired a new position in shares of TransDigm Group in the 3rd quarter worth approximately $29,000. Erste Asset Management GmbH acquired a new stake in TransDigm Group during the 3rd quarter worth approximately $29,000. Meeder Asset Management Inc. lifted its holdings in TransDigm Group by 275.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock worth $38,000 after buying an additional 22 shares in the last quarter. DT Investment Partners LLC lifted its holdings in TransDigm Group by 68.8% during the 3rd quarter. DT Investment Partners LLC now owns 27 shares of the aerospace company’s stock worth $39,000 after buying an additional 11 shares in the last quarter. Finally, Hershey Financial Advisers LLC acquired a new stake in TransDigm Group during the 2nd quarter worth approximately $41,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

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.