Morse Asset Management Inc Cuts Stock Holdings in TransDigm Group Incorporated (NYSE:TDG)

Morse Asset Management Inc cut its holdings in shares of TransDigm Group Incorporated (NYSE:TDG) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,886 shares of the aerospace company’s stock after selling 115 shares during the quarter. Morse Asset Management Inc’s holdings in TransDigm Group were worth $2,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its stake in 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 acquiring an additional 17 shares during the last quarter. ORG Partners LLC purchased a new position in TransDigm Group in the first quarter valued at approximately $30,000. Meeder Asset Management Inc. grew its holdings in TransDigm Group by 275.0% during 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 period. Central Pacific Bank Trust Division purchased a new stake in TransDigm Group in the first quarter worth $39,000. Finally, Crewe Advisors LLC bought a new stake in shares of TransDigm Group in the first quarter valued at $46,000. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDG has been the subject of several recent research reports. Northcoast Research started coverage on TransDigm Group in a report on Thursday, August 1st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of TransDigm Group from $1,350.00 to $1,435.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Jefferies Financial Group dropped their price target on shares of 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. KeyCorp lifted their price objective on shares of TransDigm Group from $1,325.00 to $1,440.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company dropped their target price on TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,438.24.

TransDigm Group Trading Up 1.3 %

Shares of NYSE TDG opened at $1,408.03 on Monday. The business has a 50-day moving average of $1,294.01 and a 200-day moving average of $1,276.52. The firm has a market capitalization of $78.79 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 2.16 and a beta of 1.42. TransDigm Group Incorporated has a 12 month low of $802.46 and a 12 month high of $1,419.99.

TransDigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, topping analysts’ consensus estimates of $7.77 by $1.23. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates 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, analysts predict that TransDigm Group Incorporated will post 30.69 earnings per share for the current year.

TransDigm Group Increases Dividend

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

Insider Transactions at TransDigm Group

In related news, Director W Nicholas Howley sold 5,073 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $1,242.30, for a total transaction of $6,302,187.90. Following the transaction, the director now directly owns 21,548 shares of the company’s stock, valued at approximately $26,769,080.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Kevin M. Stein sold 10,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,248.60, for a total transaction of $12,486,000.00. Following the transaction, the chief executive officer now owns 8,158 shares of the company’s stock, valued at approximately $10,186,078.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director W Nicholas Howley sold 5,073 shares of TransDigm Group stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,242.30, for a total transaction of $6,302,187.90. Following the completion of the transaction, the director now owns 21,548 shares in the company, valued at approximately $26,769,080.40. The disclosure for this sale can be found here. In the last three months, insiders sold 36,545 shares of company stock worth $46,454,828. 4.96% of the stock is currently owned by corporate insiders.

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.